Marketing is about Creating a Difference
What I believed in business is that you don’t necessary need to be better than your competitors; you just need to be different. In marketing, being different goes a long way in identifying your Unique Selling Proposition (USP) to your target customers. So, what is so unique or distinctive about your product that makes it stand out from your competition?
Most people feel intimidated when they hear the word Unique Selling Proposition (USP). Though the term sounds pretty complicated, USP simply means a special feature, service or something unique to your business, which distinctively sets you apart from your competitors.
Let’s take a look at an example of two companies having similar products but distinctive in creating their USPs. When it comes to taste, both Pizza Hut and Dominos Pizza are pretty much the same. What’s different about them is the way they have positioned themselves in the eyes of the consumers.
Pizza Hut’s business model is marketed with a focus on dine-in customers – by providing a cosy environment for their customers to bring along their family and friends. Pizza Hut’s restaurants are usually strategically located in prime areas such as shopping malls in spacious corner units and serve a variety of flavours and choices.
On the other hand, Dominos Pizza has directed its marketing focus towards offering a quick and speedy delivery service. As they only require a small pantry and kitchen, their restaurants are usually located in small units in various discreet areas. Their most valuable asset are their runners who are responsible for delivering orders to their customers in the fastest time possible.
Hence the USP, “If you don’t get your pizza after 30 minutes, the next pizza will be given to you Free of Charge”. This USP is also indirectly a guarantee that their customers’ orders will be delivered within 30 minutes.