When developing or improving a value proposition it's helpful to think of customers not as rational thinkers, but as rationale thinkers* — where the stronger the reasons are for choosing your product or service the better.

Rationales fall into three categories: 

Functional - What it does
This is the most basic rationale — the need you satisfy, problem you solve, or "job to be done" (if you favor that parlance).

Experiential - How it does it
Faster, safer, more beautiful, more reliable, more comfortable, easier to use are all examples. Focus on identifying two or three compelling ones.

Financial - What it costs
Is it cheaper? Does it appreciate in value? Is it fairly priced considering the quality? Is it a Veblen offering? These are some examples of financial rationales.

Every proposition combines all three rationale types. The tricky part is identifying a distinctive combination that a) people care about and b) where you can out perform alternatives.

These rationales are important considerations for existing offerings too. If they aren't clearly understood and agreed upon internally, other activities — CX initiatives, advertising, etc. — will tend to lack solid foundations and focus.

*Stole this term from Rob Walker's excellent book "Buying In".

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