Use BookMyEssay:USP Assignment Help

In the present world of global marketing USP is a well known as well as a major factor. This is the marketing statement which one uses to sell their products or services.

It is the one unique feature of the product or service that competitors cannot provide and which makes it unique from other brands. In simple words, it can also be said that it is the differential factor that makes the business distinguished from others. It is the reason why a customer buys that product even being costlier than other products.

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Importance of Creating a USP

A USP is regarded as a competitive advantage because it differentiates a company from the rest. The importance of having a USP is discussed briefly below:

• The first and the most important reason to have a USP is, it assists the prospective buyers of the company in differentiating between the various providers of the same product or service by making the company their obvious choice for whom they will invest their time, money, and trust.
• If your product or service’s advantages are well-defined by its USP, the target buyers get the motivation to buy the product or service for that particular aspect. So, a clear idea of the benefits of the product or service is needed.
• A product USP that is strong enough improves the marketing of a company which in turn increases the revenue. By combining with product’s benefits with a competitive rate, USP will keep the product in the same position in the market, so that the targeted buyers will keep paying for it.
• If a strong and positive product identity can be created through a USP, a company can easily capture the market segment that demands exactly what they are offering, increasing their loyalty to the company’s brand.

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Features of USP (Unique Selling Point)                                                                    

When a company is formulating its product’s USP, it is important to take the following points into consideration:

• It must be unique.
• It should be difficult to imitate.
• It should be understood easily by the prospective buyers.
• It must be positive and strong enough to motivate buyers to purchase the product or service.

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