Unique selling proposition

The unique selling proposition (USP) or unique selling point is a marketing concept first proposed as a theory to explain a pattern in successful advertising campaigns of the early 1940s. The USP states that such campaigns made unique propositions to customers that convinced them to switch brands. The term was developed by television advertising pioneer Rosser Reeves of Ted Bates & Company. Theodore Levitt, a professor at Harvard Business School, suggested that, 'Differentiation is one of the most important strategic and tactical activities in which companies must constantly engage.' The term has been used to describe one's 'personal brand' in the marketplace. Today, the term is used in other fields or just casually to refer to any aspect of an object that differentiates it from similar objects. The unique selling proposition (USP) or unique selling point is a marketing concept first proposed as a theory to explain a pattern in successful advertising campaigns of the early 1940s. The USP states that such campaigns made unique propositions to customers that convinced them to switch brands. The term was developed by television advertising pioneer Rosser Reeves of Ted Bates & Company. Theodore Levitt, a professor at Harvard Business School, suggested that, 'Differentiation is one of the most important strategic and tactical activities in which companies must constantly engage.' The term has been used to describe one's 'personal brand' in the marketplace. Today, the term is used in other fields or just casually to refer to any aspect of an object that differentiates it from similar objects. A unique selling proposition (USP) refers to the unique benefit exhibited by a company, service, product or brand that enables it to stand out from competitors. The unique selling proposition must be a feature that highlights product benefits that are meaningful to consumers. As described by Dr. James Blythe, the USP 'contains the one feature of the product that most stands out as different from the competition, and is usually a feature that conveys unique benefits to the consumer.' Communicating the USP is a key element of branding. In Reality in Advertising, Reeves laments that the USP is widely misunderstood. He outlined three basic rules for an advertisement that encapsulated his ideas about the USP: The USP concept has become one of the eight broad approaches to creative executions in advertising. The USP approach is recommended where the product category is characterised by high levels of technological innovation. A clear USP helps consumers to understand differences between brand offerings in a category, and may also help consumers to form a positive attitude towards the brand and may ultimately contribute to improved levels of brand recall. In order to determine an appropriate USP for any given brand, marketers must undertake extensive research of the category as well as consumers. It is important to be able to locate a space in the market, ensure that the feature is something that is unique, and also something that is valued by potential customers. Sellers also need to try selling it to themselves; this is so they know they are passionate about that business and confident it can succeed. The seller needs a key point to use when trying to sell their product or service, and coming up with it prior to selling will benefit. Having a point of difference to stand out is a major benefit in the markets; customers will be drawn to the business as it offers something no one else has. This is exactly what every business should be looking into whether it is home delivery service from the store or all-organic food at the restaurant. In markets which contain many similar products, using a USP is one campaign method of differentiating the product from the competition. Products or services without differentiation risk being seen as a commodity and fungible by the consumer, thus lowering price potential. That's why having a unique selling point is essential to have a successful business that can handle competition and possible future comers in similar markets. The desktop personal computer market is one example with many manufacturers and the potential for new manufacturers at any time. Apple used the slogan 'Beauty outside, Beast inside.' for its Mac Pro campaign to differentiate its product as 'beautiful' compared with any other desktop computer. Buyers of this product were willing to pay a premium price, compared with technically similar desktop computers. Apple differentiates itself with a focus on aesthetics and cutting-edge technologies. Wal-Mart's 'Save money, live better' (Waiz, 2013). Wal-Mart is concerned with being the cheapest department store and reminding their customers that it's not how much you spend on a product that matters. Something so simple that can attract customers like that and show the unique selling proposition of the business is what people look for.(Entrepreneur, No Date).Marketing strategies is very important for different companies to increase their market share. The following are examples of Unique Selling Propositions. What is commonly considered a slogan is enhanced with a differentiating benefit of the product or service. Typically, the uniqueness is delivered by a unique process, ingredient, or system that produces the benefit described.