What is a USP? A Unique Selling Proposition

The video tutorial explains the concept of Unique Selling Proposition (USP), a marketing strategy that highlights the unique benefits of a product or service to differentiate it from competitors. It discusses the historical context of USP, its importance in creating a competitive edge, and its relevance in modern markets where competitors can quickly replicate features. The tutorial outlines a three-stage process to create a USP: understanding the market and customers, differentiating the product, and crafting a clear USP statement. Examples and practical steps are provided to help businesses develop a compelling USP.

Who coined the term 'Unique Selling Proposition'?

• Philip Kotler

• Rosser Reeves

• David Ogilvy

• Theodore Levitt

What is the primary purpose of a Unique Selling Proposition?

• To set a competitive price

• To differentiate a product from its competitors

• To increase social media presence

• To create a catchy slogan

How does positioning differ from a USP?

• Positioning is about price and value balance

• Positioning is the same as USP

• Positioning focuses on product features

• Positioning is only about advertising

What is a major challenge to maintaining a USP in today's market?

• High advertising costs

• Ease of feature replication by competitors

• Limited product availability

• Lack of customer interest

Why is constant innovation important for a USP?

• To keep the product ahead of competitors

• To reduce production costs

• To improve customer service

• To increase brand loyalty

What is the first step in creating a USP?

• Setting a competitive price

• Researching competitors

• Designing a logo

• Finding the ideal customer

Which of the following is a key component of crafting a USP?

• Creating a long-term business plan

• Developing a unique product feature

• Increasing social media followers

• Hiring a celebrity spokesperson