Business Dictionary

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brand promise -  Your brand promise is what your customers expect when they buy from you. Consistently delivered, it creates customer loyalty. A brand promise should serve to differentiate you. Also called a positioning statement or USP (unique selling proposition).
commoditization -  Almost total lack of meaningful differentiation in the marketplace. Commoditized products or services have thin margins and are sold on the basis of price and not brand.
differentiator -  Unique features and/or benefits of a product, or aspects of a brand, that set it apart from competing products or brands.
iteration -  A process for arriving at a decision or a desired result by repeating rounds of analysis or a cycle of operations, the objective of which is to bring the desired decision or result successively closer to discovery with each repetition (iteration)
unique selling proposition -  Real or perceived benefit of a good or service that serves to differentiate it from competing brands and gives the buyer a logical reason to prefer it over their other options.
value proposition -  An analysis or statement of the combination of goods and services offered by a company to its customers in exchange for payment.