What is a unique selling proposition (USP)?

A unique selling proposition (USP) refers to a specific factor that makes a product or service stand out from its competitors. It highlights what is unique or distinctive about a product, giving customers a compelling reason to choose it over alternatives. This differentiation could be in the form of unique features, benefits, or services that are not offered by other brands in the same market. A well-defined USP helps businesses communicate effectively with their target audience, addressing their specific needs and preferences, ultimately driving sales and customer loyalty.

In contrast, the other options focus on different aspects of marketing and business strategy rather than defining the concept of a USP. Increasing brand visibility relates to promotional strategies rather than product differentiation. Lowering production costs pertains to operational efficiency rather than marketing differentiation. Attracting price-sensitive consumers emphasizes pricing strategy, which may not necessarily involve unique product features but rather competitive pricing. Therefore, the essence of a unique selling proposition is centered on distinguishing the product itself in the marketplace, making it the most accurate answer in the context provided.