To summarize in one sentence, the value proposition is a promise a company makes to its customers. Since these promises create expectations for the customers and these expectations are directly related to their experience, the value proposition should be determined very well and the promises that cannot be kept should not be given to the customers. The value proposition can be summarized in 3 areas for companies:

1. Promise
2. Keep your promise
3. Don't make promises you cannot keep

The value proposition is the company's answer to the question “Why should I buy your product"?