Entrepreneurship Lesson 3.03 Review

A Unique Selling Proposition is an attribute of your product or brand that

• can be found anywhere.

• shows why customers should buy elsewhere.

• relates only to your pricing strategy.

• separates your business from competitors.

A migraine medication's USP communicates that it contains the safest ingredients. This USP is related to

• pricing strategy.

• offer.

• guarantee.

• product features.

A USP can improve the performance of a work team by

• providing a common goal.

• building a lasting reputation

• creating a unique product

• cutting through advertising clutter

Many companies use a USP as part of their overall _________ strategies.

• Diversification

• Market dominance

• Positioning

• Market Segmentation

Marketers often condense USPs into short slogans because

• a successful USP is always very short.

• there cannot be product differentiation through any other means.

• customers tend to remember one thing from an ad

• all work team members must memorize them.

"Our product works great!" is an example of a USP that is not ___________ enough.

• urgent

• fulfillable

• specific

• desirable

A successful USP starts with

• a great product

• reliable research

• loyal customers

• business cards

Ranking your company in relationship with your competitors helps you to determine

• methods for copying them

• coming trends in your industry

• how your company is unique

• how to correct weaknesses

To guard your USP from competitors, you should

• print it in a foreign language

• make it difficult to understand

• avoid letting it become public

• repeat it as much as possible

To buy a product, customers in a market must first

• be willing to buy the product.

• learn the product's features

• make sure the product is on sale.

• locate the product in a store.