Competition your friend?

by on 04/04/2011

If you are daunted by sheer competition,here is a different point of view.

Heavy competition suggests — a viable market exits.

How can we capitalise on this?

We learn from the competition:

Experience their product or service. Talk to their customers. By doing this we can learn what are they doing well ;what are the bad at…. ;what is the market screaming for?

Then ignore the competition

Yes … by all means learn from your competition and now choose to stand out stand out in a way that you proposition is so compelling that you chosen market segment had no choice but to come to you.

Set your own benchmark.

Here are some examples how new and thriving businesses were born out of a crowded market and set their own benchmark.

  1. Budget airlies (Easy Jet, Ryan Air, Southwest Airlines…
  2. Apple – Computer
  3. Iphone – Mobile phones
  4. Groupon – Discount Voucher promoter

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