value

• What is the reason people buy products or services?

  People buy for a reason related to the value offered by the product or service.
• Why is it important for a product to be the best option for target customers?

  It ensures that customers have a reason to choose your product over others.
• What does it imply if a product does not offer something valuable to customers?

  It implies that customers have no reason to buy the product.
• What is the term used to describe the value incorporated in a product?

  Value proposition.
• What is a value proposition?

  A value proposition is a believable collection of persuasive reasons why people should notice you and take action.
• How does a value proposition influence consumer behavior?

  It motivates people to take action and spend on your product or service.
• What is innovation?

  Innovation is the introduction of something new in your products or service.
• What are some examples of possible innovations for products?

  Change of packaging, improvement of taste, color, size, shape, and possibly price.
• What are some possible innovations in providing services?

  Application of new and improved methods, additional feature services, and possibly freebies.
• Why must a business innovate to increase sales and profit?

  To introduce new ideas or improvements that attract customers.
• What does USP stand for?

  Unique Selling Proposition.
• What is the purpose of a Unique Selling Proposition (USP)?

  To present a factor that makes a product or service different and better than the competition.
• Why is it important to sell yourself before selling your product or service?

  Because it helps to establish trust and credibility with potential customers.
• How can analyzing competitors' ads help in discovering your USP?

  It allows you to learn how companies distinguish themselves from competitors.
• What should you focus on when discovering your USP?

  You should focus on the needs of the target customers.
• What essential question should you ask to improve your USP?

  What could make customers come back and ignore competition?
• Why is it important to identify customers' desires?

  To understand what drives and motivates them to buy your product or service.
• How is USP considered in marketing strategy?

  It is often considered the cornerstone of a marketing strategy and a differentiator from other products.
• What two questions should you ask to make your USP stand out?

  What can I offer that my competitors cannot? What do my customers already want that they don't know they want yet?
• Why should your USP be clear and concise?

  So that it sticks with the customer and helps to set you apart from the competition.
• What are the five basic components of a USP?

  • Benefits
  • Emotive
  • Key selling points
  • Key difference
  • Competitive advantage
• What is the role of the benefit in a USP?

  • Draws people in
  • Highlights what makes the product or service appealing
• What does the emotive component of a USP do?

  • Attracts people on an emotional level
  • Highlights why they should buy the product or service