Thursday, November 14, 2013

Never start a land war in Asia, ...

or a price war.
If you want to compete, choose a dimension (differentiate your product, lower your costs, design an advertising campaign) that is difficult for your competitors to mimic.


  1. So what happens if you are in an industry where it is difficult to differentiate, such as wheat. Wheat is wheat - not some "super wheat" product, costs are similar for almost all competitors, and they are a price taker so cannot go above the market price? How do they gain competitive advantage?

  2. Or just get government subsidies. That a real nice point of differentiation.

  3. I have seen many companies make this mistake. They believe a special sale or discount will garner customer loyalty but all it does is make their customers more price sensitive

  4. In order to remain relevant in this ever changing competitive environment, companies must start to differentiate, lower their costs or advertise. This should be done in order to gain more market share. If it is a product that is more of a commodity, perhaps the company can find ways to manufacture/distribute more cost effectively; as a result, they can increase their margin and/or provide some of that cost savings to the consumer.

    Jackie Yee #XXXX921