Marketing: Unique Selling Proposition Quiz

Marketing Concepts

• Marketing involves strategic functions to identify and appeal to specific customer groups.
• It focuses on understanding and satisfying customer needs, differentiating it from mere selling techniques.
• Selling aims to persuade people to exchange money for a product, whereas marketing develops demand and fulfills customer needs.

Unique Selling Proposition (USP)

• USP defines the unique factor presented by a seller that differentiates a product/service from competitors.
• A strong USP communicates why the product is better or different, influencing customer choice.
• Examples of USP vary across products; for toothpaste, it can be chemical composition or added features like organic ingredients.

Creativity and Innovation

• Creativity involves generating new ideas or approaches, important for differentiating products in the market.
• Innovation refers to the implementation of creative ideas into new or improved products/services enhancing market competitiveness.

Activity: Product Reflection

• Students should select a product and answer three reflective questions:
  • Why did you buy it?
  • Why did you use it?
  • Why not choose other brands?

Application: Creating Your USP

• Encourage students to individually create a product and define three unique selling propositions.
• Suggested products for USP creation include:
  • Ballpen
  • Lipstick
  • Corned Beef

Importance of USP

• Realizing the importance of USP helps businesses effectively market products, define their value, and stand out in the marketplace.
• A well-defined USP can lead to better customer recognition and loyalty.