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Two Categories of
Competition
There are two categories of
competition: direct and indirect competitors. While direct
competitors are targeting the same market with a similar product,
indirect competitors compete for the same resources, such as time
and money, of the same
customers, but are
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selling them something
different.
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Competitive Strategies:
2 Types
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Surprise To Win:
3 Strategies
Learn From Them and
Search for Opportunities
You’ll be much more successful in your
market niche if you know your competitors inside and out. First of
all, don't think of competition as a problem. Instead, think of
competition as a source of
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opportunities and a way to
learn what works and what doesn’t
work. Adapt and employ their successful practices and relevant
innovations.
You can also
discover new market opportunities your competitors might be
missing and fill that need.
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Value Innovation:
Yin-Yang Strategies
>>
KoRe 10 Tips
Your competitors may also be creating
– without realizing that – new
unconscious customer needs. You can turn these
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unconscious
needs into conscious ones and fill them.
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Selling Is
Problem Solving
Build
synergistic
partnerships with competitors who have
core competences and
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corporate capabilities
complementary to yours. For instance, you can organize
content marketing campaigns or
new technology development projects
jointly with them.
Constructive
Competition
Competition between individuals
and teams
within an organization can be either constructive or destructive
depending on the leadership, corporate culture and the
established codes of behavior.
Constructive competition
 is about
developing one’s own, others’ and
shared goals. It is essential to
continuous
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Innovation
and
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Improvement
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