As a value proposition connects firms and customers, it becomes one of the central marketing concepts. Currently it has remained de-contextualized. Drawing on service-dominant logic, practice theory and consumer culture theory, this study aims at contextualizing value propositions by investigating theoretically how consumers experience and evaluate value propositions in practices. It pinpoints what their essence is in customers’ lives: the ability of offerings to help customers to enact desirable cultural discourses into experience in practices. Hence the study constructs value propositions as firms’ proposals which integrate sign value (the meanings of value propositions addressing desirable cultural discourses), experience value (sign value materialized into experience in a practice), exchange value (financial and non-financial sacrifices), and resources needed to address and materialize sign value. In general this study extends understanding on the socio-cultural and situational character of value propositions, value creation and value co-creation.