What defines a unique selling proposition?

A unique selling proposition (USP) is fundamentally defined as the unique benefit or feature of a product or service that differentiates a business from its competitors. This distinction is crucial for a business to articulate because it highlights what makes its offering special and appealing to potential customers. The USP effectively communicates to consumers why they should choose one product or service over others available in the market, emphasizing the particular advantages or characteristics that set it apart.

In contrast, other options like the price point of standard market offerings focus on cost rather than differentiation. The marketing channels used to reach customers pertain to the methods of communication and distribution rather than the unique aspects of the product or service itself. Lastly, the overall branding strategy encompasses a broader approach to how a company presents itself and its values, which may include but is not limited to the unique selling proposition.