USP - Unique Selling Proposition (a.k.a. Unique Selling Point)
Unique Selling Proposition, also known as Unique Selling Point is a concept of marketing any entity in a unique way to differentiate it from all the other sellers. The term "Unique Selling Proposition" can be split into 3 parts, each have their own meaning :-
- Unique - Opting a really different approach of Marketing
- Selling - Exchange of Money for a Service or a Product.
- Proposition - An offer or a proposal to buy something.
In the highly competitive world of today, it is the USP of the company that differentiates it from their competitors.
For example :
In an advertisement of Domino's Pizza, the company is offering hot pizza delivered to your home in less than 30 minutes, if the company doesn't manages to do so, it gives you the pizza - free of cost. It is the Unique Selling Proposition of Domino's pizza that attracts customers by making their sales proposition unique.