- This can be low price if you have a unique process or advantage that will always keep your costs below the competition’s. If not then competing solely on price is suicide
- This could be high price if you have a luxury product which is in demand by people who want to be seen as able to afford exclusivity
Speed- This can be fast (for example food or deliveries) as long as you have a process which always delivers faster than anyone else
- This could be slow (for example fine dining or whisky) as long as the wait is seen as part of the pay-off for the buyer.
Newness- In the technology or gadget market some people buy things simply because they are new. Some businesses compete on performance (for example computers or phones) so they need innovation from their suppliers
- Oldness can also be a selling point – think antiques, or retro, or reliability
Convenience- Petrol stations can charge more for essential items than supermarkets because they are next to the road and have parking. Convenience could also mean opening hours or home delivery or anything else that makes it easier for the customer
- Being a one-stop shop
Range- Both breadth of range and numbers stocked can be a powerful USP. If a customer is pushed for time or in a fix they look for the place that always has what they need on the shelf.
Expertise or specialism- The ultimate is to be seen as a specialist in a field of one. This is really what defining a niche is about; making yourself a specialist.
Quality and Service- Never the word “quality” or “service” but a deep understanding of what attributes represent quality and service in your market and a proposition which not only delivers on these but uses these terms to resonate with the customer.
Reliability
No comments:
Post a Comment