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EXERCISE STRATEGYZER.COM / VPD / DESIGN / 2.4

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Compare Your Value Proposition with Competitors

2

3 Score your value proposition.

Select factors of competition.

Draw a vertical axis (y-axis) to repre-

OBJECTIVE

OUTCOME

Draw a horizontal axis (x-axis). Pick

sent the performance of a value prop-

Understand how you

Visual comparison

the pain relievers and gain creators

osition. Add a scale from low to high

are performing com-

with competitors

you want to compare with competi-

or from 0 to 10. Plot how your value

tion. Place them on the axis. These

proposition performs on each factor of

are the factors of competition of your

competition on the x-axis (i.e., the pain

Strategy Canvas.

relievers and gain creators you chose).

pared to others

Use the Strategy Canvas from the Blue Ocean Strategy book to plot the performance of your value proposition against those of your competitors. Then compare the curves to assess how you are differentiating. Instructions Draw a Strategy Canvas step by step and compare your value proposition with those of your competitors. 1. Prepare or pick a value map for this exercise. 2. Grab a big sheet of paper or use a whiteboard. 3. Follow the steps.

1 Select a value proposition. Select the value proposition (prototype) you want to compare.

Tip You can also add pains and gains if you feel like they better describe important factors of competition.

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