Marketing Plan Part C: Unique Selling Proposition, business and finance homework help

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Journal 2: Marketing
Plan Part C:
Unique Selling

Due Week 6 and worth
100 points

You will now complete your secondary market research and consider what
distinguishes your company from your competitors, their products, and / or the
price of their products and services.

The key word in Unique Selling Proposition (USP) is “unique.” There are very
few products or services that are truly one of a kind. In order to target the
demographic for your company, you need to pinpoint what makes your business
standout among the competitors (e.g., Charles Revson, founder of Revlon, always
used to say he sold hope, not makeup. Neiman Marcus sells luxury and customer
service. Wal-Mart sells bargains. Amazon is earth’s biggest bookstore.)

Use the
Internet to research two (2) of your favorite companies and two (2) companies
that are similar to your company. Identify the USPs of these companies, and
consider what the USPs mean to you. Next, prepare to create a USP for your

Tips on
creating a USP for your company:

  • Put
    yourself in your customers’ shoes. Consider
    what your customers really want. Consider what could make them your repeat
    customers and instead of your competition‘s.
  • Research
    what motivates your customers’ behaviors and buying decisions. You
    need to know what drives and motivates customers.
  • Uncover
    the real reasons why customers buy your product instead of a
    competitor’s. As
    owner of a start up, ask people why they buy your future competitors’ product.
    This will help you uncover why they might buy yours. Ask yourself the following
    • What
      does our product or service do better than anyone else?
    • How
      is our business model different from that of our competition? How could our
      product or service be different?
    • What
      market category or niche is not being served by our

Write a
four to six (4-6) paragraph journal entry in which you:

  1. Identify
    the target market and your secondary market for your company. Note: Be as specific as possible (e.g.,
    women 30-45, with a high school education and some college; people working full
    time and living in the Midwest, etc.).
  2. Describe
    your unique selling proposition (USP). Explain the key factors that make your
    company different than competitors within your industry. Describe the primary
    way in which the USP for your company targets the two (2) markets you identified
    in Question 1.

of a USP:

  • My
    product is t-shirts and coffee mugs with fun and empowering logos for
  • My
    target market is women ages 35-55, college educated, working full time. My
    secondary market trends a little younger at 25-35, women passionate about their
    professional life and their personal pursuits.
  • My USP
    is “Be Authentic, no Apologies.”
  • My
    reasoning is I want women to buy my sassy slogans, because they want to show
    their authentic voice on a shirt or mug.

Note: Insert the information from the completed Journal 3
entry into “Section 3: Unique Selling Proposition” in the provided Marketing
Plan Template (located in Week 4).

Click here to view the grading rubric for this assignment.

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