Product Value Creation Training Through Value Proposition Canvas (VPC) with the South Jakarta Small Medium Enterprise (SME) Community
Abstract
Product value creation training is a community service activity carried out by the Faculty of Economics and Business, Paramadina University. The aim of this program is to increase knowledge and practice of creating product value for MSME actors. The training participants were the South Jakarta MSME Community. The themes presented were digital entrepreneurship, the urgency of product value, and product value mapping with the Value Proposition Canvas. The number of participants was 38 people. The evaluation results showed that the participants were satisfied with this training program. The three aspects assessed are the committee, materials, and the implementation of the concept of product value. The training method is carried out face-to-face by inviting small-medium enterprise community actors in the South Jakarta area. The evaluation questionnaire was distributed online using the Google Form. The results of the evaluation assessment show that the program was successfully implemented with material in accordance with business needs. Training participants have a strong desire to apply the Value Proposition Canvas (VPC) concept to products or services. These This awareness is to be able to meet consumer expectations. The follow-up program will be carried out with the theme of packaging and product branding. These two themes are a continuation of the community service program in the coming year.
References
Abdullah, Y., & Rosliyati, A. (2020). The product market strategy, value creation, and competitive advantages as a determinant factor of marketing performance. International Journal of Supply Chain Management, 9(3).
Bailetti, T., Tanev, S., & Keen, C. (2020). What makes value propositions distinct and valuable to new companies committed to scale rapidly? Technology Innovation Management Review, 10(6). https://doi.org/10.22215/timreview/1365
Burhanudin, B., Yusnaini, Y., Khamisah, N., & Kartasari, S. F. (2022). Utilization of E-Commerce and Digital Marketing to Increase Value Added Products for MSMEs and Home Businesses in Kerinjing Village. Sricommerce: Journal of Sriwijaya Community Services, 3(1). https://doi.org/10.29259/jscs.v3i1.77
Da Silva, I. (2020). Gábor Rekettye (2019). Value Creation 4.0- Marketing Products in the 21st Century. Transnational Marketing Journal, 8(1). https://doi.org/10.33182/tmj.v8i1.997
Deepak, A., & Jeyakumar, S. (2019). Marketing Management (I). OrangeBooks Publication.
Hsu, Y. (2016). A value cocreation strategy model for improving product development performance. Journal of Business and Industrial Marketing, 31(5). https://doi.org/10.1108/JBIM-11-2014-0221
Inomata, R., Kobayashi, N., Nakada, M., & Shirasaka, S. (2020). Proposal of Customer Value Consistency Canvas, Using an Ontology of Value Proposition with Service Dominant Logic. Review of Integrative Business and Economics Research, 9(4).
Kotler, P., & Armstrong, G. (2016). Principles of Marketing. In England: published by Pearson Education.
Kumar, V., & Reinartz, W. (2016). Creating enduring customer value. Journal of Marketing, 80(6). https://doi.org/10.1509/jm.15.0414
Moro, S. R., Cauchick-Miguel, P. A., & de Sousa Mendes, G. H. (2022). Adding sustainable value in product-service systems business models design: A conceptual review towards a framework proposal. In Sustainable Production and Consumption (Vol. 32). https://doi.org/10.1016/j.spc.2022.04.023
Munthiu, M.-C. (2009). The buying decision process and types of buying decision behaviour. Sibiu Alma Mater University Journals, 2(4).
Oestreicher-Singer, G., Libai, B., Sivan, L., Carmi, E., & Yassin, O. (2013). The network value of products. Journal of Marketing, 77(3). https://doi.org/10.1509/jm.11.0400
Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2015a). Value Proposition Canvas: How to create products and services customers want. Journal of Business Models, 3(1).
Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2015). Value proposition design: How to create products and services customers want (1st ed.). John Wiley & Sons.
Park, S. (2020). Marketing Management (1st ed.). Seohee Academy.
Payne, A., Frow, P., & Eggert, A. (2017). The customer value proposition: evolution, development, and application in marketing. Journal of the Academy of Marketing Science, 45(4). https://doi.org/10.1007/s11747-017-0523-z
Prasad, R. K., & Jha, M. K. (2014). Consumer buying decisions models: A descriptive study. International Journal of Innovation and Applied Studies ISSN, 6(3).
Rintamäki, T., & Saarijärvi, H. (2021). An integrative framework for managing customer value propositions. Journal of Business Research, 134. https://doi.org/10.1016/j.jbusres.2021.05.030
Sodhi, A. S., Sharma, N., Bhatia, S., Verma, A., Soni, S., & Batra, N. (2022). Insights on sustainable approaches for production and applications of value added products. In Chemosphere (Vol. 286). https://doi.org/10.1016/j.chemosphere.2021.131623
Taylor, S. A., Hunter, G. L., Zadeh, A. H., Delpechitre, D., & Lim, J. H. (2020). Value propositions in a digitally transformed world. Industrial Marketing Management, 87. https://doi.org/10.1016/j.indmarman.2019.10.004
Terenina, I. V., Ovanesyan, N. M., Khan, R. S., & Fedosenko, A. A. (2019). Marketing activity in the context of the digital economy. International Journal of Economics and Business Administration, 7.
Veleva, V., Todorova, S., Lowitt, P., Angus, N., & Neely, D. (2015). Understanding and addressing business needs and sustainability challenges: Lessons from Devens eco-industrial park. Journal of Cleaner Production, 87(1). https://doi.org/10.1016/j.jclepro.2014.09.014
Whalen, K. A. (2019). Three circular business models that extend product value and their contribution to resource efficiency. Journal of Cleaner Production, 226. https://doi.org/10.1016/j.jclepro.2019.03.128
Yin, Z., & Fu, Y. (2021). Managing product value uncertainty: The role of ex ante product value delivery. Journal of the Operational Research Society. https://doi.org/10.1080/01605682.2021.1892461
Zhao, M., & Wang, X. (2021). Perception value of product-service systems: Neural effects of service experience and customer knowledge. Journal of Retailing and Consumer Services, 62. https://doi.org/10.1016/j.jretconser.2021.102617
