Unique Selling Proposition – Managing competition

Unique Selling proposition 

Unique Selling Proposition - Managing competition

Unique selling proposition is a value proposition offered to get customers choose you over your competitors in the first place. The proposition you offer must be strong to attract the masses. Unique selling proposition is not a new term in the marketing world. Few decades back companies used to promote their product on television and print media like news paper. They used to convey their value proposition while communicating with masses. It was usually then a powerful way to build and attract customers. As a matter of fact, It produced results for them.

You might have noticed people saying, our sector is facing recession. Recession typically refers to the drop down in normal sales figures in terms of sales. Companies is using USP as their powerful weapon to manage competition. As a result they are able to tackle market conditions and customers as well.

What customers cares about? 

  • What are you trying to sell me
  • How much does it cost
  • What does a product/service have in it for me.

Unique selling proposition focuses upon; 

  1. A customer want’s and desires identification
  2. Develop value proposition
  3. Offers them with best suitability.

How unique selling proposition is build?

—Think about your business 

This will let you decide, what unique can be offered to stay in business. Coffee cafe day is a great example for your understanding. After establishing chain of outlets across India they were facing competition from the other giants like Barista, Starbucks.

—What you could add to make it more unique 

Coffee cafe day developed their unique strategy. They welcome customer and offered them for their personal business meetings or making presentations. They provided them with the best ambiance and privacy to take on with in Cafe coffee day.

—You don’t need to invent something new, just combine two things you already know about 

You can have a cup of coffee at Cafe coffee day and sit for long hours without hesitation doing your work or dealing with important client. This unique selling proposition helped them to sustain, grow, and managing competition as well. They are not only operating as coffee chain outlets but also introduced coffee machines for corporate usage at offices. As a result, they stepped their footprints which is built in their consumers minds.

Unique selling proposition- Why choose you

Unique selling point distinguishes you

  • Makes you stand out from the pack
  • Raises the bar only you can reach
  • It helps you to achieve your goals
  • Put you in a league of your own

Comparatively, Customers weighs product/service with all the offerings available. Offering quality product with unique offering is equally important.

What Unique selling proposition is not?

—We are the longest in the business

You can not claim USP as you are longest in the business. You can try build trust but not as USP. As a result, longer in the business can build trust for you in the market but people now a days, focuses on offering/benefits. More of it, Nokia was once giant in the business and from a longer period. They got washed out from the market. Do you think longevity in the business saved them or served them as their Unique selling point.

—Meaningless slogan

Your slogan can never be your USP, because sometimes companies uses it to attract customers. An example of Tata sky can be taken, “Isko laga daala toh life jhingalala”. Does it makes sense or create any USP in their offering. Not to mention but they did it to make it an influential advertisement.

—We are the biggest and best

Modestly companies do advertise that they are biggest or best manufactures but this can not be your unique selling proposition.  As a result you will loose a chunk of customers, if you do mistakes in setting good unique selling point.

Unique selling proposition translates

Remember, How Nokia was a giant seller in the handset segment. Unique selling proposition from Android added value to consumer’s mind, In addition to it, USP helped them to translate their success over Nokia phones. Example-  Savlon An antiseptic liquid. They tackled competition with their USP Savlon with “No string properties”.

Sinking down to present market scenario, wherein companies is bound by tough competition, You must be unique in your offerings to not only sustain the market as well as build your strong foundation for future. More of it, You must have an additional offering in your product over and above the product of competition.

I hope this article added value. In addition read my another article on  Viral marketing which describes how Companies uses viral marketing as a tool to sustain the market.

 

 

 

 

Kumar Prashirsh

An avid reader and blogger, Prashirsh is a digital marketer and also following his interest for blogging and turned blogger who writes contents for enhancement of knowledge for his reader. He truly believes in self which boosts his confidence towards life.

Kumar Prashirsh has 16 posts and counting. See all posts by Kumar Prashirsh

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