Entity: USP
USP, an abbreviation for Unique Selling Proposition, refers to a distinctive feature of a product that sets it apart from competitors. In a different context, USP can also stand for United States Pharmacopeia, a standard reference used for medications and healthcare products.
USP
Etymology
The term USP is an abbreviation for 'Unique Selling Proposition' or 'United States Pharmacopeia'.
Definition
USP, in marketing, refers to a unique feature of a product that distinguishes it from others in the market. In the healthcare industry, USP stands for the United States Pharmacopeia, a reference book for pharmaceuticals.
Historical Context
The concept of USP in marketing was popularized in the 1940s by advertising executive Rosser Reeves. The United States Pharmacopeia has a long history dating back to the early 19th century.
Cultural Significance
USP plays a crucial role in marketing strategies, helping companies differentiate their products. The United States Pharmacopeia ensures the quality and safety of medications in the healthcare sector.
Related Concepts
Other related concepts include 'unique value proposition' and 'competitive advantage'.
See Also
USP is an abbreviation that can refer to Unique Selling Proposition or United States Pharmacopeia.