GK
BUSINESS MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
helps companies determine how to gain a competitive edge and position themselves so customers buy from them, and only them
|
|
|
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
|
Detailed explanation-1: -The USP analysis refers to the process by which you analyze and identify factors that set your business, product, or service from that of your competitors and develop a unique identity that will give you a competitive edge.
Detailed explanation-2: -A unique selling proposition (USP) is closely related to competitive advantage. A successful USP articulates the benefits of your products, service or brand to customers, and explains why they are superior to those of a competitor.
Detailed explanation-3: -What is a unique selling position? A USP-also known as a unique value proposition-is the key element or feature that sets a company’s products or services apart from the competition. It’s a short statement that tells current and potential customers why they should choose your offering.
Detailed explanation-4: -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.