The USP must be a feature that highlights benefits that are meaningful to your target market.
Your business could base your USP on a variety of issues – such as product attributes, price, placement strategy, or promotional strategy. These are the 4 “P’s” and it is the manipulation of these elements that sets you apart from your competition.
If you have a meaningful USP then you have:
- A better chance to be successful
- You are ‘better’ than the competition
- You have a ‘peg’ to hang your advertising and marketing activities
- You can make your business more profitable
- You can ensure your customers stay with you
Contact me to help you develop your own USP.
For further reading, examples and information refer to Rosser Reeves, Ted Bates, Theodore Levitt, Harvard Business Review and many others.