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Most brands start out distinguishing themselves based on products and unique service offerings. As the market develops, there are fewer ways to differentiate product lines. Features become ubiquitous across brands and most are forced down the dark road of competing on price alone. This, however, is just one possible fate for developing markets. The other
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Guerrilla marketing is the wave of the future. I have given you information about what it is and even showed you a video about how effective it can be. I do know, however, that you are waiting for my explanation of why guerrilla marketing is so important. Customers seek out your advertisements Think about that
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The easiest way to think about guerrilla marketing is to compare it to guerrilla warfare. It’s a small-scale endeavor focused on gaining ground against the enemy in small steps. The advantage is that you are leveraging your knowledge of the region (which the enemy does not share) to attack their weak points. For marketing purposes,
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Every store advertises sales and discounts in today’s market. But how much value does a discount or clearance rack actually have? I currently work in a store that sells luxury goods. Our clearance items are 40-60% off and, for the next few days, we give an additional 20% off. The big numbers and “Save Now”
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A little while ago, I mentioned a new perspective I had on product categorization and marketing as it applies to retail. This is a brief summary of the new ideas I have to build anticipation for a soon-to-come series on the same topic. Divide products into two categories: luxury goods and necessities. I define necessities
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Sometimes there just isn’t anyone you can acquire to extend your coverage of the market. Either your competition is entirely incompatible with your organization or it would just be cheaper to start from scratch than incorporate another entity. In this case, it is easiest to establish an entirely new brand for the new segment of
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Corporate acquisitions, a phenomenon that is increasingly prevelent in today’s news media. Companies will buy up smaller competitors. Others will buy related businesses to leverage the competitive advantages of each. In a heavily saturated market, acquisitions are one way to get ahead, but only if pursued correctly. Buying a competitor just to reduce competition is
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If a move into a new blue ocean is impossible, consider setting yourself up as an island in your red ocean. There are techniques you can use to establish yourself as the market leader and provide a level of insolation from attack. Never be satisfied with your current products – Always fight for new product
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My first article was a recycled business strategy essay on Blue Oceans. I wanted to recap on that by explaining once again what they are and how they can be useful to businesses in existing markets. I competitive market saturated with successful companies is best compared to an ocean heavily populated with sharks. After a