Business, Money, and Trading Blog

Quality

What makes your goods and services better than anyone else’s?

It’s not enough to simply say the word `quality’. Your USP needs to paint a picture. Bed manufacturers are a good example of this. We all know that the difference between a good and bad night’s sleep can be the quality of the bed, so a cheap bed may mean a bad night’s sleep. Buyers will therefore spend more on a bed that  promises restful sleep.

Again it’s not enough simply to promise a restful night’s sleep, as most of the beds in the shop will be claiming the same thing. The unique selling point will often be to highlight how many springs or layers this bed has over its competitors. Read the rest of this entry »

This exercise is to show you that although you made an initial choice where to buy your item, there are other places you could buy it.

In business, these other outlets are called competitors, and to survive and compete  with our competitors we must be able to offer would-be customers a reason to buy  from us.

Why did you make that initial choice? Cost? Location? Or something else? Marketers  often refer to these reasons as a business’s Unique Selling Points (USPs). Read the rest of this entry »