A product is an item, idea or service for sale that satisfies a need (or want)
A proposition (or value proposition) is an explanation of why your customer should purchase your product. It should answer the question “what’s in it for me?”.
It should therefore ideally:
- Be relevant - answer the question "why me?"
- Communicate key benefits - - answer the question "what will it help solve?"
- Provide differentiation - answer the question "why not buy something else?"
- And.... It is NOT a slogan or a positioning statement