ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
If you change your company’s USP, customers are likely to
A
become more loyal.
B
become confused.
C
purchase more products.
D
become angry.
Explanation: 

Detailed explanation-1: -Your USP or unique selling proposition is what distinguishes your brand, your company, your product or your service from your competitors. In other words, it helps you gain potential customers’ attention, converting and retaining them.

Detailed explanation-2: -A unique selling proposition must focus on a narrow aspect of your product in order to be concise and compelling. A disadvantage of that narrow focus is that customers might not realize the many other benefits of using your product or service.

Detailed explanation-3: -It’s a specific and clear benefit that makes your business stand out when compared to other businesses in your market. Forming an opinionated and deliberate USP helps focus your marketing strategy and influences messaging, branding, copywriting, and other marketing decisions, and influences prospective customers.

Detailed explanation-4: -The first benefit of a Unique Selling Point is that it becomes a business identity that differentiates it from competitors. You can show some unique features, quality materials/materials, easy-to-understand application display, affordable prices, good service, and so on as the USP of your business products/services.

There is 1 question to complete.