A value proposition in business and marketing is a statement summarizing the customer segment, competitor targets and the core differentiation of one's product from the offerings of competitors. A company's market contribution normally extends further than its core product to include services, programs and systems rudiments. Value Propositions essentially translates this market offering into a proclamation of the benefits a customer will derive.
It was important for Toyota when developing their value proposition that it was clear and concise. Toyota may have started by brainstorming and focusing on the needs their target demographic group had in common. They would have done some market research.
Toyota's value proposition to prospective buyers of its Prius was "A car that sometimes runs on gas power and sometimes on electric power, from a company that always runs on brain "power". Their ads after introduction went further by stressing tag lines such as "When it sees red, it......
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