IN CONTEXT
Differentiation
1933 US economist Edward Chamberlin’s Theory of Monopolistic Competition describes differentiation as a means for a company to charge more for its products or services by distinguishing them from the competition.
1940s The concept of the Unique Selling Proposition (USP) is put forward by Rosser Reeves, advertising executive at New York advertising agency Ted Bates, Inc.
2003 US marketing professor Philip Kotler outlines the need for USPs to be superseded by Emotional Selling Propositions (ESPs) in his book Marketing Insights from A to Z.
Few businesses enjoy the privileges of monopoly power in their chosen fields ...
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