Technopreneurship: Value Propositions and Product Marketing

A set of vocabulary flashcards covering key terms and concepts from the lecture on creating value propositions and applying marketing principles to IT products and services.

Value Proposition

The core promise of value a product or service delivers to customers, explaining why they should choose it over alternatives.

Specific (Value Proposition Criterion)

Clearly states concrete, measurable benefits (e.g., “reduces processing time by 50%”).

Pain-Focused (Value Proposition Criterion)

Addresses a distinct customer problem or frustration and shows how the product resolves it.

Exclusive (Value Proposition Criterion)

Highlights what makes the offering unique and desirable compared with competitors’ solutions.

Benefits

Tangible advantages a product provides, such as speed, security, or ease of use.

Costs

All expenditures a customer incurs—price, time to learn, system requirements, or integration effort.

Competitive Advantage

A distinctive feature or capability that makes a product stand out in the marketplace.

Target Users

The specific group (e.g., developers, data scientists) for whom a product is designed.

Customer Pain Point

A recurring problem or frustration experienced by users that a product aims to solve.

5 P’s of Marketing (Marketing Mix)

The controllable elements—Product, Price, Promotion, Place, People—used to position and market an offering.

Product (Marketing Mix)

The tangible or intangible IT solution and its features, UI/UX, security, scalability, and support.

Price (Marketing Mix)

The pricing strategy, including subscription tiers, freemium vs. premium plans, and discounts.

Promotion (Marketing Mix)

Activities that raise awareness—SEO, social media, ads, content marketing, webinars, etc.

Place (Marketing Mix)

The distribution channels where the product is offered, such as app stores, cloud marketplaces, or direct downloads.

People (Marketing Mix)

Everyone involved in delivering value—developers, support staff, sales teams—who influence customer experience.

SaaS (Software as a Service)

A software delivery model where applications are hosted online and accessed via subscription.

Freemium Model

Pricing strategy offering a basic version free and charging for advanced or premium features.

AIDA Model

Marketing framework outlining Attention, Interest, Desire, and Action stages of the customer journey.

Attention (AIDA)

Stage focused on capturing potential customers’ awareness through eye-catching content or ads.

Interest (AIDA)

Stage where detailed information (tutorials, case studies) increases engagement with the product.

Desire (AIDA)

Stage intended to create strong preference via testimonials, free trials, or demonstrated ROI.

Action (AIDA)

Final stage prompting users to purchase, download, subscribe, or otherwise commit to the product.