unique selling proposition

Examples of unique selling proposition in the following topics:

• Focus of an Advertisement

  • Advertisements make propositions to consumers.
  • The proposition must be one that the competition cannot or does not offer.
  • This is known as the "unique selling point or proposition. "
  • The Unique Selling Point or Proposition (USP) is a marketing concept that was first proposed as a theory to understand a pattern among successful advertising campaigns of the early 1940s.
  • The term was invented by Rosser Reeves of Ted Bates & Company and states that certain campaigns make unique propositions to customers to convinced them to switch brands.

• Identifying Prospects

  • Personal selling functions as an essential component within a company's larger integrated marketing communications strategy.
  • Prospecting for customers is the first step in personal selling.
  • Companies that are able to tailor their products or services to a specific niche market can develop a unique selling proposition (USP) in that particular market segment.

• Product, Placement, Promotion, and Price

  • Product, placement, promotion, and price are four elements of the marketing mix crucial to determining a brand's unique selling proposition.
  • A marketer may use advertising, public relations, personal selling, direct marketing, and sales promotion to achieve these objectives.

• Generating Needs

  • Prospecting for customers is the first step to selling.
  • If they can tailor their products to secure a unique selling proposition in that particular market segment, they will meet less competition.
  • Furthermore, a correct business definition leads to a natural market orientation; for instance, Charles Revson's famous quote, "in the factory we make cosmetics; in the drug store we sell hope," allowed the company to develop cosmetic products based on women's hopes rather than product features.

• The Social Environment

  • Brand differentiation: In crowded marketplaces, companies strive for a unique selling proposition that can separate them from the competition in the minds of consumers.

• Approach

  • The elevator pitch simply defines a product, service, or organization and its value proposition.
  • Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location.
  • Direct selling allows salespersons to present, demonstrate, and sell products and services to consumers in an environment that is comfortable to the client.
  • Solution selling is when the salesperson focuses on the customer's pain and addresses the issue with his offerings.
  • Describe the characteristics and requirements for a sales approach as part of personal selling and sales promotion

• Identifying Potential Business Customers

  • Market segmentation involves identifying the particular groups of people / organizations that benefit from your product and then selling to them.
  • Identifying your customer begins with formulating a value proposition.
  • You have to be able to answer this question: "To whom is this proposition of value?
  • This is called market segmentation - picking out the particular groups of people or organizations that benefit from your product, so you can better sell to them.
  • For example, let's say a venture developing an innovative digital storage product decides to sell only to organizations, not individuals.

• Adding Value

  • Conducting an effective customer value analysis can lead a company to creating an accurate value proposition.
  • A value proposition is a promise of value to be delivered and a belief from the customer that value will be experienced.
  • A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services.
  • Organizations can use value propositions to position value to a range of constituents such as:
  • Employees: to "sell" the company when recruiting new people, or for retaining and motivating existing employees.

• The Many Goals of Persuasion

  • Advertising, personal selling, sales promotion, and public relations activities are commonly used to persuade consumers to make a purchase.
  • Companies must thus remind customers of their product's unique benefits using messaging that resonates with consumer needs and values.
  • Branding, product marketing, and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer on whether to purchase a brand based on the value they receive from each of these marketing elements.

• The Development of Value-Driven Firms

  • The values of an organization are just as important as the products they sell; having a strong value driven culture is important.
  • The values of an organization are just as important as the products the organization sells.