As the market place becomes more complex and competitive the need to maximize return on investment becomes increasingly critical. How can brands stay ahead and be competitive in the market?
This new era has created many opportunities for corporate and individual alone to come up with
new inventions to improve performance to maximise return on investment.The only way brands
can stay ahead and be competitive in the market is by doing appropriate amount of market
research. Knowing your consumers needs, wants and demands is the most essential part of
business. Businesses in reality sells solution and consumers buy benefits. Catering services or
products to consumer needs is the way to differentiate yourself to other competitors.
Another way to stay ahead and stay competitive is to have a Unique Selling Point. The unique
selling proposition (USP) or unique selling point is a marketing concept first proposed as a theory
to explain a pattern in successful advertising campaigns of the early 1940s. The USP states that
such campaigns made unique propositions to customers that convinced them to switch brands.
Offering something that the competitors don't provide or lacking in for example after sale
service, product delivery, loyalty card and etc will help brands stay competitive.
This new era has created many opportunities for corporate and individual alone to come up with
new inventions to improve performance to maximise return on investment.The only way brands
can stay ahead and be competitive in the market is by doing appropriate amount of market
research. Knowing your consumers needs, wants and demands is the most essential part of
business. Businesses in reality sells solution and consumers buy benefits. Catering services or
products to consumer needs is the way to differentiate yourself to other competitors.
Another way to stay ahead and stay competitive is to have a Unique Selling Point. The unique
selling proposition (USP) or unique selling point is a marketing concept first proposed as a theory
to explain a pattern in successful advertising campaigns of the early 1940s. The USP states that
such campaigns made unique propositions to customers that convinced them to switch brands.
Offering something that the competitors don't provide or lacking in for example after sale
service, product delivery, loyalty card and etc will help brands stay competitive.
References
http://www.coachingbysubjectexperts.com/what-is-an-usp/
http://www.coachingbysubjectexperts.com/what-is-an-usp/