How your product can help me? Why should I go ahead and buy your product? To answer these questions you should present you value proposition in a compelling way. So, in order to make a compelling value proposition, one should know very well about the idea or the product in question.
Also, it is of utter importance that you know about you competitor’s product or service and understand the needs of your customers. Find out the ways to create a powerful value proposition that answers your customer’s question well.
Understanding your customers’ needs play a very vital role in building your value proposition. Put yourself in his shoes and try to think about the various questions your customer might have. But in order to do so, it is necessary that you do a proper market research. It could be as simple as interacting with you customer directly or do some kind of surveys or a focus group.