Albérico Rosário, Ricardo Raimundo
The value proposition is a statement that over enhances a firm’s core strategy by promising improved products. It is therefore part of a company's marketing strategy while providing either a business or marketing statement that launches the brand by communicating how the company operates its business. Likewise, it summarizes the reason why consumer should acquire a potentially more effective product than competitors’. The paper uses a literature review methodology based on a bibliographic search of SCOPUS database. It explores the conceptualization and application of value proposition in order to develop customer satisfaction and loyalty. This piece of literature concludes that create and communicate value promises constitute key challenges to companies, while current research is sparse with regard to supporting the communication of value propositions, which is context dependent. It also indicates that value-based marketing practice is a collaboration strategy that requires interaction between the actors involved, in particular the organization/marketers and consumers. Finally, the process could be ameliorated through big data and analytics tools that enable data collection and analysis, whereas the internet and social media might provide communication platforms to augment innovation and firm-consumer engagement.