Unique
Selling Proposition (USP) is defined
as the factor or consideration presented by a
seller as the reason that one product or service is different from and better
than that of the competition. The crucial factor to effective selling is
USP.USP is framed using the 4P’s (Price, Product. Place & Promotions) also
known as marketing mix. A strong USP helps a company to stand out from its
competitors. Customers can have a variety of options and it will be difficult
for companies as well as customers if they don’t know what separates product/service
from another. Therefore, companies develop USP in order to create differentiation and be remembered in a packed
marketplace.
Companies use different approaches like brand image or understanding
the targeted segment group buying motivations etc. Forming a USP is not easy
and requires lot of creativity and understanding the market. It is also
important to defend and preserve USP as competitors will do what they can to
neutralize it. Here are a few great examples of some USPs in market:
AVIS
We are number two, we try
harder
For many years, Avis is the second-largest car rental company, while Hertz is ranked number one. The 'We Try
Harder' movement was so successful that Avis market share increased from 11% to
35% in just four years.
Saddleback Leather Co.
This company has a killer USP that says, “They will fight over it when you’re
dead.”
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The milk chocolate that
melts in your mouth, not in your hand.
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