Every business has big and small players.Interestingly, no one ever remains the same in due course. What defines a strong player is the ability to remain amidst heavy competition. Now, this is never easy and involves a lot of strategic decisions.

One will agree there cannot be similar customers and likewise businesses cannot be similar as well.  What makes a business different from another? What is special about you? are the questions that you need to ask yourself in order to define a brand for yourself. Here we need to understand something which can prove vital to your business. Every business needs to have a USP or Unique Selling Proposition in order to survive in the market.

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Believe it or not, every competition brings bad news as it will affect the market share loss in every business but it is the businesses that don’t clearly stand for something that often get eaten up by competitions. If your business doesn’t stands for something, it will fall for anything.It is important to be distintictive to remain in the competition. There should be something lucrative in you that should stop the customers from going to the competitors.

Jack Welch, the former CEO of General Electric (GE) was right when he said “if you don’t have a competitive advantage, don’t compete”. In other words, don’t bother getting into the game if you haven’t first figured out a plan on how to win.

There are basically 3 key areas to focus on when choosing a competitive advantage;

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  • Quality: You can choose to beat the competition by offering a superior quality than others.
  • Price: you can choose to beat the competition by offering the lowest prices
  • Service: or you can choose to beat the competition by offering an unforgettable customer service.

Most of the time it is not so easy to measure up well on all three key areas. However, it’s important to include service in any of the combinations you want to focus on. Why? The other two forms of competitive advantage can cost you a lot and often time customers can choose otherwise. In our case, we strive to offer all the three to our customers which is not an easy task but customers who choose us deserve them anyway.

In the book Reality in Advertising, advertising executive Rosser Reeves lays down three rules that unique selling propositions should follow if they wish to be more than just creative branding:

  1. Each advertisement must make a proposition to the consumer—not just words, product puffery, or show-window advertising. Each advertisement must say to each reader: “Buy this product, for this specific benefit.”
  2. The proposition must be one the competition cannot or does not offer. It must be unique—either in the brand or in a claim the rest of that particular advertising area does not make.
  3. The proposition must be strong enough to move the masses, i.e., attract new customers.Make sure you are standing out for the right reasons, and that your brand’s positioning in your marketplace is intended to move what you sell, not just to stand out.

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