Profits And Your Unique Selling Point
|Business : Profits|
Much is made of having a USP, or unique selling point, to spout one of the common three letter acronyms out there.
But is the USP that important? Well, certainly having some factor that distinguishes you from your competitors, if you are in a competitive industry (and who isn't) is really very important.
The reason is simple: if the consumer is offered ten alternative products, then what it is that makes them choose one above the other? Sometimes it is based on awareness or availability, but if all the alternatives are laid out for them, why choose yours?
If you have a unique selling point, something that your competition doesn't offer, then you need to make the consumers aware of this and use it as your main selling point - make a note and highlight it on your packaging as use it as a distinguishing factor, and you should see it helps boost your sales if the consumers value this additional selling point of your product over the competition.
Questions about business profit: