• Journal of Venture Innovation
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• v.7 no.3
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• pp.45-63
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• 2024

The success of a company in the market is linked to the value it delivers to its customers. However, that value is not always constant. As the environment changes, so do customer experiences and requirements, and eventually the value they seek also evolves. Thus, a timely, clear, and effective value proposition, along with the associated benefits, becomes the functional, psychological, and economic foundation of a business. Therefore, the customer value proposition is crucial in terms of Product-Market Fit (PMF), establishing competitive differentiation, and delivering consistent messaging. Despite this, the most widely known and utilized model related to the Customer Value Proposition (CVP) in general businesses is the Value Proposition Canvas (VPC) by Osterwalder and Pigneur. Apart from that, there are only a few other models used by scholars and experts. In this paper, I selected the VPC model, which is widely used by business practitioners globally, and two other major CVP models well-known to experts. I conducted a detailed analysis of these models and derived the essential elements and key features of a customer value proposition. These were then combined with the Lean Startup methodology, which is frequently used for innovation today, to design an integrated CVP model that startups can easily utilize. The framework proposed in this study is a comprehensive CVP model that incorporates the strengths, weaknesses, characteristics, and commonalities of the three existing CVP models. It is designed to flexibly adapt depending on the business direction or strategic characteristics of the company by comprehensively considering all circumstances of the entire company or a specific product/service. Additionally, it systematically manages the contents of customers' wants & needs, strategic focus, and growth horizons, even after application. The Integrative-Lean CVP Model, designed for easy use by startups, is expected to help them with limited funding and marketing capabilities identify value proposition elements for timely PMF, fostering the creation of a new startup ecosystem.