31 October 2011   E. Jay Saunders, Turks & Caicos Islands
A new competitor enters your market and offers a product very similar to yours but with one key difference:      IT’s FREE...
That’s Bad NewsBut There IsGood News!
…if the only differentiating factor is price, customers will ALWAYS go with the cheaper                                   ...
There are 3 Ways To Differentiate (Without Competing On Price):              1               BRAND              2         ...
How should a company respond to market challenges and differentiate its offerings                            from the comp...
According to Six Degrees in their White Paper titled “Differentiating - alternative ways todifferentiate in an increasingl...
“If Coca Cola lost everything except for ‘the formula’ and its brand name , it could walk into  any bank in the world and ...
1.   Creating a strong brand identity will build mind share, which is one of the strongest     competitive advantages imag...
From  steak sauce tohamburgerenhancer.
Another way of differentiating yourself from the competition…       …is by innovating in the service arena.           Diff...
Make it easy for your customers to find information about your products and services…                                     ...
SOFind out what people don’t like about doing business with you, and eliminate those reasons or                           ...
While basic economics tells us that in a competitive market, prices fall to their marginal                                ...
Three (3) things a company can do to compete on value while avoiding competing on price:    1.   Risk Reversal:- offer thi...
1.    The threat level posed by a competitor offering a Free or cheap product depends on:     a)   the competitor’s abilit...
31 October 2011   E. Jay Saunders, Turks & Caicos Islands
Creating A Successful Brand by E. Jay Saunders
Creating A Successful Brand by E. Jay Saunders
Creating A Successful Brand by E. Jay Saunders
Upcoming SlideShare
Loading in …5
×

Creating A Successful Brand by E. Jay Saunders

398 views
308 views

Published on

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
398
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
8
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Creating A Successful Brand by E. Jay Saunders

  1. 1. 31 October 2011 E. Jay Saunders, Turks & Caicos Islands
  2. 2. A new competitor enters your market and offers a product very similar to yours but with one key difference: IT’s FREE! What if all your competitors do it? David J. Bryce, Jeffrey H. Dyer, and Nile W. Hatch; Competing Against Free
  3. 3. That’s Bad NewsBut There IsGood News!
  4. 4. …if the only differentiating factor is price, customers will ALWAYS go with the cheaper product or service. Chestin Salisbury, 7 Ways Differentiate Yourself from Your Competition and Avoid the Price Wars Forever +There is almost nothing today that you can have that your competitors cant match in a matter of weeks or months. Building Your Brand
  5. 5. There are 3 Ways To Differentiate (Without Competing On Price): 1 BRAND 2 SERVICE 3 VALUE
  6. 6. How should a company respond to market challenges and differentiate its offerings from the competitors? One of the best ways is through effective branding! Unleashing The Power Of Your Brand
  7. 7. According to Six Degrees in their White Paper titled “Differentiating - alternative ways todifferentiate in an increasingly commoditizing market place”:1. Companies should leverage their corporate brand as it often has substantial equity; AND2. Corporate reputation and trust in a company – e.g. Apple – were the primary drivers of purchase intent, with the specific product features coming in third. Differentiating - alternative ways to differentiate in an increasingly commoditizing market place
  8. 8. “If Coca Cola lost everything except for ‘the formula’ and its brand name , it could walk into any bank in the world and get$100 billion loan to start from the scratch” Fortune Magazine
  9. 9. 1. Creating a strong brand identity will build mind share, which is one of the strongest competitive advantages imaginable.2. A strong brand creates in the mind of customers the perception that there is no product or service on the market that is quite like yours. MOST IMPORTANTLY3. Your brand is the one thing that you can own that nobody can take away from you! Building Your Brand
  10. 10. From steak sauce tohamburgerenhancer.
  11. 11. Another way of differentiating yourself from the competition… …is by innovating in the service arena. Differentiating - alternative ways to differentiate in an increasingly commoditizing market place
  12. 12. Make it easy for your customers to find information about your products and services… Kim T. Gordon, Five Ways to Outshine the CompetitionWhere possible, become a specialist in your field, as people like to work with the BEST. When you’re the best the selling of your products and services becomes infinitely easier. Chestin Salisbury, 7 Ways Differentiate Yourself from Your Competition and Avoid the Price Wars Forever But Always Remember… An organization will never be what the people are not. Customer Satisfaction: Differentiate Yourself From The Competition
  13. 13. SOFind out what people don’t like about doing business with you, and eliminate those reasons or barriers to the sale.
  14. 14. While basic economics tells us that in a competitive market, prices fall to their marginal cost… Chris Anderson, Free! Why $0.00 Is the Future of Business ALL THAT MATTERS …is the difference in price you can charge to the marginal cost. Mike Masnick Saying You Cant Compete With Free Is Saying You Cant Compete Period
  15. 15. Three (3) things a company can do to compete on value while avoiding competing on price: 1. Risk Reversal:- offer things that help remove the risk for a customer to purchase your product – e.g. satisfaction guarantees, bonuses, or premiums. (Chestin Salisbury, 7 Ways Differentiate Yourself from Your Competition and Avoid the Price Wars Forever) 2. Bundle:- .Offer a free product or service with a paid offering. (David J. Bryce, Jeffrey H. Dyer, and Nile W. Hatch; Competing Against Free) 3. Up-sell:- Introduce a free basic offering to gain widespread use and then charge for a premium version or out of bundle charges. (David J. Bryce, Jeffrey H. Dyer, and Nile W. Hatch; Competing Against Free)
  16. 16. 1. The threat level posed by a competitor offering a Free or cheap product depends on: a) the competitor’s ability to cover its costs quickly, b) the rate at which your competitor is signing up new users (ideally less than 40% per year), and c) the rate at which your paying customers are defecting to the competitor (ideally less than 5% per year). David J. Bryce, Jeffrey H. Dyer, and Nile W. Hatch; Competing Against Free2. Competition will put pressure on profits, but a competitor can’t keep selling goods and services at a direct loss forever. Mike Masnick, Saying You Cant Compete With Free Is Saying You Cant Compete Period
  17. 17. 31 October 2011 E. Jay Saunders, Turks & Caicos Islands

×