The Formidable Company: How to make your business highly competitive
The Formidable Company: How
to make your business highly
A presentation by James D. Roumeliotis
Five steps to beat your
1/ Be Totally Engaged
- Over deliver on your promises
- Get your customers involved and
- Use Experiential Marketing, and
- Ambiance Marketing
2/ Be Different
Simple methods of differentiation include:
Being quicker to respond to customer requests or market needs.
Focusing on quality of product or service rather than lowest
Selling the performance and substance of your product rather
Being more available, open for business longer or more
accessible than anyone else.
Providing faster delivery.
Offering more accessories, add-ons and related products than
3/ Be Precise & Easy to Do
Being precise with your marketing means:
- Making sure you are focusing on the value and
benefits of your product or service from your
customers’ point of view.
- Make the buying process and customer
experience as easy, uncomplicated and free from
hassle as possible.
- Communicate clearly what makes you different
from your competitors, and make it easy and a
pleasure to do business with you.
4/ Make Service a Priority
Customers don’t care about you, your
problems, your costs and margins, your lead
times, your staff shortages, etc.
They are only interested in themselves and
the benefits they might be able to squeeze
from your business instead of the one across
the street, or the other ones found over the
A priority need for every (selfish) customer or
prospective buyer is timely and personal
service. JD Roumeliotis
5/ Sell Them Higher Value
NEVER sell on price alone. A less frequently
used but more productive and profitable
strategy is to:
Take your customers from the standard
version of your product or service and lead
them to premium, higher-quality or deluxe
The key is to ensure that the higher price is
more than offset by the higher value which
the customer perceives or believes he/sheJD Roumeliotis
An adaption from Blue Ocean Strategy, conceived and published in 2005 by W. Chan Kim and Renée Mauborgne.
Conceived and published in 2005 by W. Chan Kim and Renée Mauborgne
How to Create Uncontested Market Space and
Make Competition Irrelevant
Long-term relationships build sales and
profits through customer loyalty rather than
solely on price and continuous discounts.
Instead of looking at what the competition
is doing, take what you are selling to a
higher level and create an even greater value
proposition for your brand.
Innovate and pursue new opportunities.
The Final Take