Competitive Advantage – Part 2

Competitive Advantage – Part 2

What happens if you don’t focus on competitive advantage?

If you don’t give people a reason to choose one brand or one company over another, then their decision will come down to price. Although we tend to think that people always choose on price, actually the reality is quite different. Price is the marker we use when there is no other way of choosing. Take bottled water – if all the containers were the same, the majority of people would choose the cheapest option. But the containers are not the same. The shape of the bottles are different. The branding on the labels are different, the way they are presented is different. All those indicators are contributing towards our choices.

The important point in marketing is making sure that you are getting your message across, so that people understand why your product is more expensive, so that they appreciate that the first class customer service you offer is reflected in the price. But if you don’t tell your prospective buyers about that – they will just assume that you are overpriced.

So it is vital that you define your competitive advantage, and then you make sure you tell people. People will pay more if they are getting more, it is our job to show them the extra benefits they are receiving with their goods or services, because if you don’t tell them, they won’t know.

Are you using competitive advantage in your business? Are you struggling to plan, implement, and manage your marketing program? See how other businesses use our marketing manager service to help them.

To learn more about competitive advantage and how we use it to help businesses, click below to watch the video.