Discover Your Unique Selling Proposition

Product Development and Unique Selling Proposition

• Customer needs can be identified through surveys, interviews, research, focus groups, and observations.
• Target specifications are established based on customer needs and reviews of competitive products.
• Analyzing existing competitive products is important to establish product or service specifications.
• Product concepts are generated after going through the previous processes.
• A final product concept is selected through evaluation between attributes and additional market research can be applied to obtain feedback from key customers.
• Product or service specifications are refined based on input from the previous activities.
• Economic implications are reviewed and estimated throughout the process of product development.
• A detailed development plan is prepared in the final stage of concept development.
• Innovation is the introduction of something new in a product or service, such as a new idea, method, or device.
• Possible innovations for products include changes in packaging, taste, color, size, shape, and price.
• Unique Selling Proposition (USP) is the factor or consideration presented by a seller as the reason that their product or service is different from and better than that of the competition.
• To discover a USP, one must use empathy, identify customer desires, and discover the genuine reasons for buying the product or service.