GK
BUSINESS MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
distinguishes an organization’s product or service from competitors due to certain unique characteristics
|
|
|
demographics, cultural aspects, population growth rate
|
|
|
economic growth, supply and demand, interest rates
|
|
|
stands for Political, Economic, Social and Technological Analysis; examines the overall, external economy affecting a business
|
|
|
deals with competition in that it pertains to the level of ease for competitors to be able to enter a company’s market
|
Detailed explanation-1: -A unique selling proposition, more commonly referred to as a USP, is the one thing that makes your business better than the competition. It’s a specific benefit that makes your business stand out when compared to other businesses in your market.
Detailed explanation-2: -A USP is an attractive feature or characteristic of a brand that differentiates it from similar alternatives. In a modern marketplace cluttered with so many choices with similar benefits, you want your brand to stand out from the rest. It becomes more memorable and can have a competitive advantage over alternatives.
Detailed explanation-3: -A unique selling point (USP), also called a unique selling proposition, is the essence of what makes your product or service better than competitors. In online marketing, communicating your USP clearly and quickly is one of the keys to getting potential customers to convert on your site.
Detailed explanation-4: -The Value Proposition is what you are offering to customers for what they are paying. The Unique Selling Proposition, on the other hand, is why customers should buy from you instead of someone else. It’s more about creating that emotional connection with your customers.
Detailed explanation-5: -A unique selling proposition (USP) refers to the unique benefit exhibited by a company, service, product or brand that enables it to stand out from competitors. The unique selling proposition must be a feature that highlights product benefits that are meaningful to consumers.