July 21, 2008
Are you selling a comodity?
Commodity: a mass-produced unspecialized product.
As soon as you base your sale on the price, you reduce your product or service to a commodity. For any business to be successful, you will need to set yourself apart. What is different about what you offer?
This is called a U.S.P. - a Unique Selling Proposition
You have to think long and hard about what it is that sets your business or your product or your service apart from your competition.
Once you determine your USP and what sets you apart, you need to first, make sure that your employees know what it is. It is possible that the thing you think you are selling is not the message that is getting out. So secondly. make sure that your message is getting out to your customers. You need to be using your USP as your message so that your customers can understand what it is that sets you apart and why they should buy from you
Once you have something that can set you apart, you are no longer selling your product or service based on price. That is when you start to move from being a commodity to offering something of value. Once you can move the focus of your customers off the price and on to the benefits, you will start to increase your profits.
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