WHAT IS A value proposition? It seems like a straightforward question. However, ask any number of sales and marketing executives to define their product's value proposition and often they have a hard time coming up with a clear, concise and compelling message. Sure, they have a number of colourful and dynamic PowerPoint presentations that explain the unique selling point, how the product is different from the competition and the benefit the customer will receive, but this is only part of a value proposition equation. Put simply, a value proposition is the promise that a product makes to a customer that outweighs its total cost. "That outweighs its total cost" is the part of the value proposition that most people overlook. This is important, because many products offer great value, but value is relative to the cost, risk and effort required to make a product useful.