USP stands for Unique Selling Proposition . It is the factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.When defining a strategy for your business, there are several ways how a competitor analysis can help you establish a USP :
- you can ask a few of the customers after they leave the premises what they like and dislike about the competitors' products and services.
- If your competition is beating you on pricing because they are larger, you have to find another sales feature