Crafting a customer value proposition for a start-up
This paper describes the process of crafting a customer value proposition (CVP) for a start-up during the development of a new product. Start-ups, often being inexperienced and having a lack of resources, face problems when trying to commercialise their new technology. Entering a market without prior experience with a newly developed, unique product, can be especially difficult. In this case, the process of crafting a CVP accompanies the development of the new product from the beginning. The main focus of the case study is to investigate if it is possible, as well as beneficial, to craft a CVP for a start-up. The results show that a close cooperation with customers improved the development of the product towards customer’s needs. The CVP approach also improved internal communications at the start-up. Research was conducted in form of a case study using innovation action research over a period of eight months.