(Abstract) 100 Great Business philosophy: Concept 22: highlight special selling points (USPs)

Concept 22 special selling point (USPs)

A product must have at least one special selling point: this selling point should not only make its own products different from competitors, but also surpass them.

Concept

The idea of "special selling points" seems to lay the foundation for competition. It indicates that each product should have an impressive, direct, and easily summarized "selling point". Such selling points should be able to attract customers, at the same time, it is what competitors do not have. However, the strange thing is that few companies actually implement this idea. They only meet industry standards rather than surpass it and rely solely on market power to win profits. This approach was opposed by Tesco, the UK's largest chain retailer, and it decided to make more efforts to gain a dominant position in the market. It made a 24-hour business decision, which was the first in the UK. Tesco also launched a series of special selling points, including commitment to customers who have too many people waiting to settle their bills on their own, it also provides customers with free packaging services (which is still a rare service in the UK ).

In addition to the special selling points of "Practicality", there are also some "emotional" Special selling points. These selling points do not seem to provide customers with practical benefits, but they make enterprises use the market to stimulate the emotional response of future customers and thus appear different. These emotional reactions include desires for status and success. The Mercedes Corporation, a luxury car manufacturer, is an excellent example. Although the company's cars are known for their practical advantages, it is controversial that their success is primarily due to a lack of knowledge about cars, and the desire to highlight your own image in society.

Seeking special selling points can make a company go forward and avoid stagnation. This not only benefits customers, but also enables the company to make profits successfully because of its uniqueness.

Practical application highlights

§ Be aware that your selling point may be dynamic and may change quickly. If one of your selling points is very successful, your competitors may follow suit. Therefore, we must be innovative, constantly discover new selling points, and maintain a dominant position in the market competition.

§ Find out what your customers are most interested in, what they are missing, and where their money will be spent-turning this into your selling point. This selling point may be the benefits of the product, the price of the product, or the services they get.

§ Provide the best quality: this ensures that your products have both practical selling points and emotional and status-oriented selling points.

§ Provides a wide range of options-including splitting and specialization of your market.

(Abstract) 100 Great Business philosophy: Concept 22: highlight special selling points (USPs)