This PPT slide, part of the 30-slide Business Model Innovation PowerPoint presentation, focuses on the concept of the Customer Value Proposition (CVP) and its critical role in business model innovation. It outlines how a successful company identifies and addresses a fundamental problem or "job" that customers need to complete. The slide emphasizes that the more significant the job is to the customer, the higher their satisfaction will be with the solution provided. This satisfaction is linked to how well the offering performs compared to existing alternatives, particularly in terms of price and effectiveness.

The overview section highlights that opportunities for creating a strong CVP are maximized when products are designed with a clear understanding of customer needs. This understanding allows for the development of offerings that effectively address the job at hand. The details section stresses the importance of precision in crafting a CVP. It suggests that organizations often struggle to maintain focus on a single job, which can dilute their efforts and lead to ineffective solutions.

To generate a precise CVP, the slide proposes considering four common barriers that prevent customers from completing their jobs: wealth, access, skill, and time. Each barrier represents a specific challenge that the business must address to enhance customer satisfaction. For instance, tools like QuickBooks have alleviated skill barriers for small business owners, while services like MinuteClinic have reduced time constraints for patients seeking care.

The slide concludes with a strong assertion that without a clear understanding of the CVP, efforts to innovate or reinvent a business model are likely to fail. This insight is crucial for any executive looking to refine their approach to customer engagement and product development.

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Innovation Management Business Model Innovation Business Model Design