What is a Unique Selling Proposition?

The foundation of a unique selling proposition is offering a product or service perceived by potential buyers as unique and valuable. The attributes of the business’ products or services should be substantially different from the competitor. In order to effectively develop a unique selling proposition, a business needs to study the existing buyers’ needs and behavior. It will have to be determined what the buyers consider valuable and what they are willing to pay for. Once this assessment is complete, a business will have to incorporate the selected buyer-desired attributes into the unique selling proposition in an effort to distinguish itself from existing competitors.

The objective of a unique selling proposition is to differentiate the business’ products or services from it rivals in such a way that this original selling proposition appeals to the majority of the existing buyer market. A unique selling proposition concentrates on outperforming competitors, by offering customized products or services that are specifically tailored to meet the established buyers’ tastes and demands. Businesses interested in a unique selling proposition should try to conceive strategies that are capable of winning over customers, outcompeting rivals, and establishing an edge in the relevant industry. Essentially, a unique selling proposition should be capable of improving a business’ long-term competitive capabilities and market position.

Any unique selling proposition offered by a business should cater and focus on the price, product quality, performance features, services, and warrantees. The best of selling propositions are the ones that capture existing growth opportunities. It usually crafts offensive moves that capitalize on the most competitive position and profitability. A well thought out unique selling proposition is one in which competitors find hard to match or off-set with their existing market resources and industry capabilities.

In order to successfully develop a unique selling proposition, a business must be aware of the buyers’ needs and behavior. It has to be known what a buyer considers valuable. In addition, a business will also need to determine what buyers are willing to pay for. Further, a unique selling proposition offers a business a different kind of competitive advantage that includes the ability to command a premium price for its product or service, increase the unit sales as a result of customers connecting to the differentiating features; and gaining customer loyalty to the brand.

Any business can pursue a unique selling prospective from several angles. Some angles include a unique taste, a host of unique features, hard to replicate design and performance, prestige and distinction, product reliability, quality, and technological leadership. A unique selling proposition is about being different. It is the process of deliberately choosing to perform strategic activities differently and deliver a unique brew of consumer values. However, every business should keep in mind that a unique selling proposition must be different in ways that are valuable to a customer and can be sustained. Any time and effort invested into a unique selling proposition by a business, if careful thought out, has the potential to skyrocket a business into a strong competitive market position.