Unique Selling Point (USP)
A unique selling point, also known as a unique selling proposition (USP), is a factor about a product or service that differentiates it from its competitors, usually in a positive way. A very basic example of a product’s unique selling point could be its high-quality or low cost, but it’s usually something of a higher level such as being the first product or service of its kind on the market, or the first to offer a particular functionality.
A successful unique selling point promises customers a clearly articulated benefit that similar products or services cannot or do not offer. It usually makes their product stand out and is good enough to attract new customers and potentially cause customers to migrate away from their competitors’ products to their own.
Forming a unique selling point enables businesses to focus their marketing strategies and improve their messaging, branding, and other marketing elements.