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This thread focuses on two critical components of product strategy and #prodmgmt: your product's ๐๐ป๐ณ๐ฎ๐ถ๐ฟ ๐ฎ๐ฑ๐๐ฎ๐ป๐๐ฎ๐ด๐ฒ and its ๐๐ป๐ถ๐พ๐๐ฒ ๐๐ฎ๐น๐๐ฒ ๐ฝ๐ฟ๐ผ๐ฝ๐ผ๐๐ถ๐๐ถ๐ผ๐ป. They are not the same, although sometimes people confuse them. (1/4)
A unique value proposition expresses your product's value to customers that they cannot obtain anywhere else. Your product is only valuable insofar as it solves a cohesive set of problems. It is unique when it is the only solution for that set of problems. #prodmgmt (2/4)
An unfair advantage is not a characteristic of your product but of the company, technology, intellectual property, or people behind it. It is not itself valuable to customers, but it makes your company uniquely capable of delivering the value proposition. #prodmgmt (3/4)
If you found this thread informative, check out my blog entry on using competitive mindshare maps to determine the unique value proposition for a product. https://blog.cauvin.org/2013/11/competitive-mindshare-maps.html #prodmgmt (4/4)
