What term describes a characteristic of a product or service that makes it different from others in the market?

The term that accurately describes a characteristic of a product or service that differentiates it from others in the market is a Unique Selling Point (USP). A USP highlights the specific features or benefits that make a product distinct, helping to attract customers by emphasizing what sets it apart from competitors. This differentiation can be based on various factors, such as quality, price, design, or customer service, and is crucial for businesses aiming to carve out a niche in a crowded marketplace.

While a competitive advantage refers to the overall superiority a business has over its rivals in terms of performance, cost, or value, it is a broader concept. A franchise relates to a business model where a company allows a person or group to operate a business using its brand and systems. The term enterprise refers to a business organization but does not specifically address differentiating characteristics. Thus, the Unique Selling Point is the precise term that captures the essence of differentiation in products or services.