Competitive Market Q&A

What makes you think you need to be different from your competitors?No, I'm not trying to be smart. It's a legitimate question. Do your customers or prospects buy based on differentiating factors? Do they value differentiation? If so, to what extent? If not, why are you trying to be different?Reading between the lines of your question, I'm guessing you're trying to find a "USP" for your business. Perhaps you're launching a new product into a highly commoditised market, or perhaps your services are the same as other providers in your industry.In my view, the idea of a traditional marketing USP is misguided, outdated and not based on empirical evidence. People buy the product/service that most easily fulfils their needs/desires, which may not necessarily be the one different from all others.Take a good look at your competitors. Are they in themselves differentiated? Or are they all pretty much the same, with superficial, meaningless distinctions? For example: one is red, another blue. One provides services for industry A, another industry B. Take a good look at their customers. Are they in themselves differentiated? Notwithstanding the nature of the product/service, are they all the same – a cross-section of the market?So why differentiate when being distinctive will do?

Hi, James. Here are three ways to set your brand apart from others.

1. Employ a customer-driven approach -- instead of a money-driven approach -- to all aspects of your business, including problem-solving. Understand that you're in business to enhance customers' lives in order for them to assist others. The money will come.

2. Know that an editorial team should intensify your product's visual appeal. Not worsen it.

A product may have all the features that your prospective customers desire. But, misspellings, poor grammar and punctuation accompanying its packaging, advertisements, websites and social media pages may cause customers to question what your company values. Does the company spend equal time developing all of its products' components? If not, will the product last?

3. Ensure your teams understand how and why they link. Encourage them to guide each other.

When I wrote for a syndicated radio show, a producer talked to me about a word I'd used in a script: abovementioned. My print media background had appeared at the wrong time.

He reminded me that I was writing for the ear, not the eyes. His advice sharpened my writing and logic. He kept the show's brand identity intact.

Abovementioned could have cost us listeners, radio stations and advertisers.

James, we hope this helps.

The thing is people will just source out free media with advertising. You just need to go to Google news and work out which is the free media. That been said I do think it is a bold move by Fairfax and I am sure that a percentage of people will probably pay for the media. 

Greetings Melissa from rural Australia,

What Ananda says is so true.

I live and work from my remote rural property in the Central Tablelands of NSW. My nearest regional centre is Bathurst. An hour's drive away.

As an online business, all trips into Bathurst are triggered by parcels to post.

And after standing in line at the post office, our first stop is at our favourite cafe/takeaway. Al Dente.

A cafe. And deli combined.

This little hole in the wall just jumps with people at any tick of the clock.

Not only do they have fabulous coffee. But they make everything fresh every day. The owner and her husband are chefs. And know exactly what the public wants. Being gluten free, it's also the only cafe that caters for me. My only other option is fish and chips.

They make the best smoked ham sandwiches. And. They sell to anyone who asks, as a deli item, whatever quantity of that ham you want to buy.

But the real icing on the cake is the staff. All crowded behind the counter. Smiling. Eager to help. Answering questions about what's on offer. And nothing is ever too much trouble for them.

There are three takeaways directly across the street. One right around the corner. Two dine in restaurants open for lunch further down the street. And the famous Legall Patisserie Cafe is half a block away.

It doesn't matter how much competition they have, they just rock.

Good food. Fabulous, friendly staff. And that intangible called charisma. All combine to make for one very successful hole in the wall ringed by competition.

Best wishes,

~Carol Jones, Ironing Diva❤

Purveyor of The Fitz Like A Glove™ Ironing Board Cover And Other Goodies

350,000 customers. In 29 countries.

I think it is important to look further than the headlines. China's economy is changing, but not necessarily as a manufacturer.

Stats. I have seen usually show that manufacturing goes through cycles of surges and declines depending on a whole range of things like seasonal aspects as well as the state of the world economy. Amongst those surges when times are good China generally rallies faster and when times are bad China generally slows off slower.

What may be in place is that more labour intensive industries such as those in textiles are moving away due to higher wages, whereas China is aiming for more advanced manufacturing.

I reckon China will still be THE worlds manufacturer for a long while yet.

my mobile phone. I literally am a media company from just my mobile.

As an eCommerce site Amazon is one of the best option fot retail business. Already many of the retail businesses based in UK,USA, Australia & Canada impacted with Amazon. Even the top most brands like Alanic Activewear, Nordstrom, Nike have already connected with Amazon.

For example- https://www.amazon.com/Alanic-Activewear-AW003A-V-Neck-X-Large/dp/B06XPKJ6JB/

Hi

You need to understand the demand & supply gap for the products that you have decided to invest in, apart from the other scenarios which you will consider. The ground rules mainly would be complying with the applicable statutory requirements and work within the limits applicable to the industry in which the investment has been made. You may have to deal with both micro and macro economic conditions applicable to the business.