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Tuesday, May 07, 2013

What Makes Your Company Different?

Written by  Duane Bailey

If I were to ask, “What Makes Your Company Different?” how would your employees answer? How would your customers answer? Would their responses be the same?

This question is at the heart of your company’s marketing strategy. As noted author and Harvard Business School Professor Michael Porter notes in Competitive Strategy (The Free Press, 1980), “differentiation…creates layers of insulation against competitive warfare because buyers have preferences and loyalties to particular sellers.” When companies lack differentiation and a product or service is viewed as a commodity, “choice by the buyer is largely based on price and service, and pressures for intense price and service competition result.”

So, what makes your company different? Is it price, service or something truly unique and innovative? Now may be a good time to re-engage your employees and customers to see what they have to say.

For more on marketing strategy, please see:
• Low Customer Retention? Maybe You’re Just Selling Mulch
• Are Your Customers Looking for a Better Deal?
• Beyond Price…How One Small Business Is Building Strong Community Ties to Differentiate

Duane Bailey

Duane Bailey

Duane Bailey is a regular contributor to The Chief Storyteller® online conversation. He has helped organizations of all sizes drive growth in revenues and market share through the development and delivery of key business messages that resonate with target audiences. He holds an MBA in International Business and a BS in Marketing. He brings 28 years of experience in marketing communications and high technology sales.

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