Your USP is the unique thing that you can offer that your competitors can't. It's the reason why customers buy from you. Get insights in the unique selling point.
1. Research your competitors.
Quality, pricing, image, service, advertisement, press, web presence, weak and strong points, customers, partners, etc. Where can you get their products?
2. Define what makes your business strong.
Company resources – people, skills, knowledge. What are possibilities for innovation, what do you specialise in, which market is good? Think about your differentiation to competitors and customer interest.
3. Write down what the customer wants.
Product value for buyer/user? Established price points? Is the customer price sensitive? Will a lower price increase market share? Specific discounts for trade customers or in specific market segment? Competitors’ prices?
4. What is your promotion strategy?
What are the channels to get your message across – press, TV, radio, billboards? When do you promote – seasonal, environmental? What do your competitors do?
After ideation, before market introduction.
Find unique characteristics of your product.
Know your product and customers.
Know what makes your product special.
Define strategy and find market.