Summary: This article looks at the relationship between your Product Value Lines and your Consumer Value Lines.
Your Company Value Line must support its Product Value Lines so they can more closely match the Consumers’ Value Line than competitors solutions. Make no mistake, that’s what business is about. You solution has to be better than the rest in the ways customers want along the whole Consumers’ Value Line. You have to identify value better, create it better, communicate it better, deliver it better, support it better and so on, in the ways that really matter to consumers.
Any Value Creator may help with one, several, or all parts of the Company and Product Value Line.
In addition the Value Line holds true when dealing with value and internal customers – employees. For example, with a new policy implementation you would first need to identify the value by finding the place for improvement and researching it with the market (asking employees), then create the value by drawing up the policy, then communicate the value by effectively telling people about it and getting it to the right people, then delivering value it by ensuring it does as intended, then support value by being there to answer questions, then monitoring and measuring value by checking up it has worked against metrics, gathering feedback and by testing people on their knowledge of it, and finally, sustaining the value by making future improvements to it.
The Company Value Line comprises of and is connected by lots of different little activities. These activities are all the things your business does day to day. These activities and the way they interlink and interact either contribute to value or detract from it – depending on the Product Value Lines that flow from it. There is no neutral. Every person in the organisation is there to add value to customers, whether they are external or internal ones. Everything you do inside the company costs money, so it is costing your customers money as well. Each activity acts as a creator of value and/or costs to either external customers, or the internal customers. The way all its Value Creators work together and support each other like links along your Product Value Line and makes each link stronger or weaker.
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