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ENT PS Unit5 Lesson1 Final

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0% found this document useful (0 votes)
34 views27 pages

ENT PS Unit5 Lesson1 Final

Uploaded by

Gretchelle Eliot
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Unit 5: Product Propositions

Lesson 1
Unique Selling Proposition

Entrepreneurship
Senior High School Applied - Academic
Why do businesses need
to describe their product
uniquely?

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 2
●Recognize and understand the
market.
Learning ●Describe the unique selling
Objectives proposition that differentiates
At the end of the
one’s product or service from
lesson, you should existing products or services.
be able to do the
following:

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 33
Did you see a business
wherein they describe
their product differently,
such as using attractive
words?

Can you give an example


of these businesses?

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 4
What may be
the reasons
why businesses
highlight these
special features
of their
product?

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 5
Unique Selling Proposition

a marketing strategy
that focuses on special
features of a product or
services which enable
them to stand out from
the competition and
attract customers
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 6
Example: Unique Selling Proposition
Business/Product USP

Starbucks Coffee Premium Coffee

Domino’s Pizza You get fresh, hot pizza delivered


to your door in 30 minutes or
less or it’s free.

M&Ms The milk chocolate melts in your


mouth, not in your hand.
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 7
Sources of Opportunities

Business/Product USP

Papa Johns Pizza Better ingredient, Better Pizza

FedEx Express Guaranteed Overnight Delivery

Facebook Helps you to easily connect and share


with people that you know

AirBnB Finds cheap places to stay

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 8
Remember

A unique selling proposition is a


statement created by
entrepreneurs to highlight distinct
characteristics of products or
services from competitors.

9
Why do entrepreneurs need to use
a unique selling proposition?

10
Purpose of the Unique Selling Proposition

1. Sympathize with customer needs


2. Motivate the customer
3. Uncover the real reason why the
customer buys the product

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 11
Tip

The unique selling proposition


describes only the features of the
product or service that is different
from others.

12
Why do entrepreneurs need to use
a unique selling proposition?

13
Advantages of the Unique Selling Proposition

Clear Differentiation

Improved Revenue

Loyal Customers

Simpler Selling

Sales Strategy
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 14
What are the steps in writing a
unique selling proposition?

15
Steps in Writing Unique Selling Proposition

Step 1. Review the planning process.


Step 2. Identify the target audience’s problem.
Step 3. Focus on the solution.
Step 4. Combine it into a concise statement.

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 16
16
Example: Steps in Writing Unique Selling Proposition

Situationer:

An entrepreneur who has a restaurant


offering fried chicken will create a unique
selling proposition in order to increase the
sales of the business.

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 17
17
Example: Steps in Writing Unique Selling Proposition

Step 1. The mission of the business is


to offer fried chicken to
Review the
customers at a cheaper price
planning
but with high quality. The goal
process. of the business is to expand
into multiple branches.
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 18
18
Example: Steps in Writing Unique Selling Proposition

Step 2. There is no other store


offering fried chicken in the
Identify the
place where the business is
target
located.
audience’s
problem.
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 19
19
Example: Steps in Writing Unique Selling Proposition

Step 3. The business will offer a


product that will meet the
Focus on
customer’s needs and
the solution.
satisfaction.

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 20
20
Example: Steps in Writing Unique Selling Proposition

Step 4. The entrepreneur will come up with


a unique and concise statement.
Combine it into
a concise
USP: Affordable homestyle fried
statement. chicken made with 10 herbs and
spices right next to your door.

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 21
21
Activity

An entrepreneur who owns a store of fruit


shake would like to ask your help in creating a
unique selling proposition for his business.

Write your steps and the constructed USP

EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 22
Questions
Part A. Explain the meaning of the following concepts as
discussed in the lesson.
1. Unique selling proposition
2. Improved revenue
3. Loyal customers
4. Sales strategy
5. Clear differentiation
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 23
Questions
Part B.
1. Why is it important for entrepreneurs to have a
unique selling proposition?
2. What will be the main advantage of a business which
uses a unique selling proposition versus a business
that doesn’t?
3. What will happen if an entrepreneur decided not to
use a unique selling proposition? Will it achieve
success?
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND 24
Wrap Up

Unique selling proposition (USP) is a marketing


strategy that focuses on special features of a
product or services which enable it to stand out
from the competition and attract customers.
Clear differentiation, improved revenue, loyal
customers, simpler selling, and sales strategy
are the advantages of using a unique selling
proposition to the business.

25
Wrap Up

26
Bibliography

Entrepreneur Asia Pacific. “Unique selling proposition”. Accessed March 20,2020.


https://www.entrepreneur.com/encyclopedia/unique-selling-proposition-usp.

Kokemuller, Neil. “Why is it important for a firm to gain competitive advantage in a


marketplace?” Bizfluent. Accessed March 20, 2020. https://bizfluent.com/info-8651871-
important-gain-competitive-advantage-marketplace.html.

Kotler, Philip & Gordon McDougall. Marketing Essentials. Prentice-Hall Canada Inc., 1985.

Miranda, Gregorio. Basic Marketing Revised Edition. L & G Business House, 1997.

Singtel myBusiness. “The advantages of a unique selling proposition on marketing”.


Accessed March 20, 2020. https://mybusiness.singtel.com/techblog/advantages-unique-selling-
proposition-
marketing?fbclid=IwAR1RcLZ7dKatXGsKC1zg0c6gnk7aHHKBdnXWNPrFM1fE5KoXsYyGwaFgyAY.

27

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