50 • 100 GREAT BUSINESS IDEAS
Products should have at least one USP: a factor that differentiates
and elevates them above their competitors.
The idea
The idea of a “unique selling point” seems to underpin the very
nature of competition. It suggests that every product should have an
effective, direct, and easily summarized “selling point” that appeals
to the customer and is not shared by competitors. Yet surprisingly
few businesses have actually employed this idea, content merely to
meet the industry standard without surpassing it, relying solely on
market momentum for profi tability. This approach was rejected by
Tesco—Britain’s largest retail chain—which decided instead to go
the extra mile for market superiority. It took the decision to remain
open 24 hours a day, becoming the fi rst British supermarket to do
so. Tesco also introduced a number of other USPs—including the
promise to open checkouts for customers if there was more than
one person in front, and providing a complimentary bag-packing
service (a service that is still a rare concept in Britain).
As well as “practical” USPs there are “emotional” USPs. While they
may not seem to provide a practical advantage to the customer, they
enable businesses to differentiate themselves and their products
by using marketing to trigger emotional reactions in prospective
clients. These reactions include the desire for status or a feeling
of success. Luxury car manufacturer Mercedes-Benz is a prime
example. Although its cars feature many practical advantages,
it is arguable that its mainstream success is due to people with