A value proposition canvas describes the value offered by the service in very simple words.
The value proposition canvas is a framework that helps designers ensure that there is a fit between the product-service and the users.
The relationship between the user’s needs, pain points and tasks are balanced against the value proposition of the service.
Source: B2B International
The service should meet the user needs by offering ‘pain relievers’ and ‘gain creators’.
When to use it
A value proposition canvas is often used to validate and refine a concept before moving forward with development or making the service live.
This short YouTube video tells you more about a Value Proposition Canvas.