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What is a value proposition?

What is a value proposition? Here are some definitions.

Noun
  1. (business, management) The benefit (such as profit or convenience) offered by an organisation's product or service.
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Unfortunately, they come up short in providing a tangible value proposition that quantifies what the product actually means to a business.
Even in the allegedly unrelated areas like finance the business needs to live out the value proposition.
The company developed its marketing strategy in three phases, extending its value proposition beyond online trading.
This will make us an even more competitive solutions company with a unique value proposition for our customers.
This new price is part of Nintendo's commitment to offer the consumer an unbeatable value proposition.
To develop the value proposition, the company had to understand what was important to customers in each segment.

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