28 June 2017

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Marketing Prescriptions: Always afraid of competition, but never of a competitor

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MARKETING PRESCRIPTION #7

Always afraid of competition, but never of a competitor

Mr Ashwin MerchantCompetition is inevitable in today’s business – be it from local, regional, zonal, national or international competitors, one has no choice but to fight. To fight local competition, you can use Guerilla Marketing Strategy and Global marketing strategy for Global business, but unlike lessons taught at management schools i.e.” find your strength, find your weakness (SWOT)”, the marketing guru suggests to find the “weakness in the strength” of competitors, and attack. You are small, no problem, and find weakness focus on it. You offer products and services that overcome that weakness. Since you are small you can decide fast, take quick execution steps, and attack market in short time. Large companies are like elephant, take a long time. If you feel you are dominated by a single competitor than the above lesson works well. By not ignoring competition, you are always on toes to improve product, pricing, promotion besides management techniques.

To reach to Mr Ashwin Merchant:  This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Earlier in the Series:

Think like buyer, not seller

Forget 4Ps, Study 17Ps

Find weakness in strength of competitor

Never make mistake to discount quality

Distinguish or Die

Make Yourself Unmatched

 

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