ENTREPRENEURSHIP

Value refers to what the product does for customers that they’re prepared to pay

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The Marketing Concept that was first proposed as a theory to understand the pattern in successful advertising was called Unique Selling Proposition.

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In creating value proposition, entrepreneurs will consider the four (4) basic elements.

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Unique selling proposition is specific, often citing numbers or percentages.

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Effective selling using advertising and marketing is part of value proposition

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Identifying and rank the uniqueness of the product or services is one tip for the entrepreneur on how to create an effective unique selling proposition.

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The entrepreneurs should not consider the health benefits of the consumers.

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Consumers have common wants and needs.

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Market targeting is a stage in market identification process that aims to determine the set of buyers with common needs and characteristics.

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Identifying the unique selling proposition will not require marketing research.

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