Similar to the unique selling proposition, it is a clearly defined statement that is designed to convince customers that one particular product or service will add more value or better solve a problem than others in its competitive set.
Gaining a customer's attention and approval will help build sales faster and more profitably, as well as work to increase market share.
[citation needed] The promise of value is often expressed as a solution that the business provides to help a customer solve a problem.
It also argued that this view is simplistic as it misses the nuances of human emotions, which can have a big impact on the way customers perceive value.
Once the business receives the attention they require from their target market through the use of customer value proposition they can increase their sales and gain more profit along with the number of consumers.
"[6] Firstly, any business must give importance to their target market by gathering relevant information on their consumers' requirements and create possible solutions which could be used as a substitute to resolve their problems.
Knowing and researching the potential customer enterprises and requirements of the target market can be done through multiple theoretical and practical methods.
Products, services or the idea presented by businesses are used in order to improve human hardship and compromising the attributes that best suits the needs of the targeted consumers.
Employees can add value to a company, which then in turn increase their competitive advantage by a range of small, yet highly useful actions.
Over time and with multiple sales, the percentage will have a high impact on a firm and then will have a "ripple effect" that will add value to the customer as well.
Whilst employee relations are a key to a successful competitive advantage over rivals, other factors such as reliability, reputation, options, and performance are all crucial customer value propositions.
Showing that a company/ firm can generate customer value proposition and competitive advantage over their rivals without having to have the cheapest price, or necessarily the best quality.