By: Vadim Kotelnikov
Founder, Ten3 Business e-Coach – Your 360 Achievement Catalyst, 1000ventures.com, 1000advices.com, and Success360.com
Average ones compete with others. Great ones compete with themselves.
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Your Competitive Strategies |
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Basic Requirements Your entry ticket to the competition game |
Your Survival Strategy How to survive |
Your Market Leadership Strategy How to win a leadership position |
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Low cost/benefit ratio |
Creating higher customer value and positioning |
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Mass marketing |
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Linear |
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Functional improvements |
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Perfecting traditional business model |
Adaptability, creating new business models |
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Your Competitive Strategy To be successful today, your company must become competitor-oriented. You must pursue the right competitive strategy - avoid strengths of your competitors and look for week points in their positions and then launch marketing attacks against those weak points.3
Two Basic Competitive Strategies Average ones compete with others. Great ones compete with themselves. The market leader is dominant in its industry and has substantial market share. If you want to lead the market, you must be the industry leader in developing new business models and new products or services. You must be on the cutting edge of new technologies and innovative business processes. Your customer value proposition must offer a superior solution to a customers' problem, and your product must be well differentiated .
Case
in Point
7-Part Competitive
Strategy of Microsoft
Although Bill Gates, Founder of
Microsoft, built his empire on technological products, his business
mastery is even more important than his technical skills, and his
competitive urge is a huge driving force.
The early success of Microsoft was founded on
the company's 7-part competitive strategy...
More
Building Your
Sustainable
Competitive Advantage
Sustainable competitive advantage is the prolonged benefit of
implementing some unique value-creating strategy based on unique
combination of internal organizational
resources
and
capabilities
that cannot be replicated by competitors...
By: Peter Drucker
Blue Ocean Strategy: 6 Principles Blue Ocean Strategy is about revolutionary value innovation. The six principles drive the successful formulation and execution of Blue Ocean Strategy. These principles attenuate the six risks... More Competition Through Innovation With the enormous competition markets today are driven by choice: your targeted customers have too many choices, all of which can be fulfilled instantly. Competition through innovation, supported by your differentiation strategy, is thus more important than price competition. If your enterprise allows itself to lag behind in the race to generate new or improved goods and services, and better ways to produce and run them, you are putting your future on the line... More
DOs and DON'Ts of a Successful Innovator By: Peter Drucker DON'Ts: Don't undershoot, or you will simply create an opportunity for competition... More
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