The Unique Selling Proposition is a marketing concept that was first proposed as a theory to explain a pattern among successful advertising campaigns of the early 1940s. It states that such campaigns made unique propositions to the customer and that this convinced them to switch brands. A product’s unique selling proposition is the set of benefits of the product that clearly sets the product apart from competitive products. These differences compel the buyer to exchange money for the product. The competition can be direct competitors or substitutes. A direct competitor offers similar benefits to a similar target market using a similar technology, A substitute product offers similar benefits using a different technology. A Honda Civic is a direct competitor for the Toyota Corolla and a bike made for commuting is a substitute product.
Rolls Royce: most luxurious automobiles on the planet. (Not the most reliable automobile)
Domino’s Pizza: Fast delivery. (not high quality, best tasting or lowest price!)
Wall Mart: Lowest prices (not best service or widest selection)