CONNECTS: Understanding the Customer and Creating a USP*

This event will be held in a hybrid format.* *If you attend in person, the event will be held in the Swartz Center on the 3rd floor of the Tepper Quad. *If you wish to attend virtually, you can attend via zoom. Everyone will receive the zoom link when you register. Presenter: Bob Blattberg, Carnegie Mellon University Please note: The speaker for this talk will be virtual *This seminar is recommended for anyone participating in the McGinnis Venture Competition. This workshop will explore how to understand the customer and then determine what the organization’s unique selling proposition (USP) is based on who the customer is.  A critical source of failure of entrepreneurial enterprises is lack of understanding the customer.  A second source of failure is not having a unique selling proposition, also called unique value proposition in the business model canvas. Topics to be covered include learning the customer is more than just the end user and often is what Bob calls the customer chain - the different layers including the end user and intermediate customers such as a retailer that also is involved in the purchase decision.  Additionally Bob will describe the three criteria for determining if the product or service has a USP, what is the difference between a benefit and a feature and why is this critical in determining a USP along with examples from both for profit and non-profit firms of USP’s.