What is the Full form of USP?
The full form of USP is the Unique Selling Proposition or Unique Selling Point. It is a marketing term that differentiates a company’s product from the majority of its competitors. In the early 1940s, this idea was first suggested as a hypothesis to explain a trend of ineffective marketing and advertisement campaigns. The theory of the Unique Selling Proposition notes that these promotional campaigns made unique consumer recommendations that prompted them to move products, brands or services.
- A USP focuses on the unique advantage of a product, service, brand, or business that separates it from its rivals and helps it to distinguish out from competitors.
- The USP must be a function that illustrates the advantages that are relevant to consumers of the product or service.
- A core aspect of advertising is the contact of the USP.
- USP’s approach is suggested where high levels of technological advancement in the product category are described.
- A simple USP allows customers to differentiate between types of products offered by various brands and also allows them to build a positive outlook and attitude towards the product.
- Undoubtedly, it can lead to increased brand recall rates in the eyes of people.