You have now decided to start something new during these difficult times (read the recession). The idea that has been on your mind for a long time is about to be implemented. He carefully cultivated his idea, polished it, and wishes to promote it in this competitive world during these difficult times. No matter what your idea is and what domain you are going to reach, make sure your product must have a PVU. Yes! It is imperative for any business, that wants to survive in this world of sharks eat sharks, not to be bought and closed by the already established large commercial sharks of this world. Read on to learn why USP is important to your business …
All the companies in this world that have survived for so many years and gotten great could definitely have created a USP for themselves. What is the USP? The USP in expanded form is known as a unique selling proposition or single selling point. All companies should have it. Whether you are in service / manufacturing / concept building / etc /, you need to create a PVU for your business. USP gives your business an edge over others in the market. It makes your customers feel and recognize your business in the market. Your competitors cannot copy it. Even if they do, it is at your own risk. Having a business built around a USP allows you to stay in the market for years, keeps your profits safe, and doesn’t allow your competitors to take advantage of your customers.
Be different. To survive in the market, you must be different. Your product or service must meet the demands and needs of the market, but in a different way compared to competitive products. Disseminating new ways of producing or creating something that serves the market in a unique way is quite difficult. But it is imperative and it is what is desperately needed for your business to thrive in the marketplace.
Don’t copy your competitors. It is a waste of time and effort. If you copy, by the time you are in a position to sell your services, your competitors will have already absorbed the market. Propose an appropriate strategy from the initial phase and stick with it. Always take the help of your R&D division while studying market trends, designing new product or service features for the market. The only thing that helps your product or service gain market momentum may be possible through your continued R&D efforts.
In short, every business should have a USP. If it’s already there, then improve it; if it’s not there, believe it. In this difficult current market scenario, having USP is not only an asset in itself, but it also serves as a benchmark for your business.