Wednesday, April 18, 2012

Stand out from the rest – beat the competition in your traditional Business

What consumers want today is more than the product and services we provide. Hence, we can’t just stick to doing business in a tradition way or happy doing the same way. Today with fierce completion before us and with the hunger for better, economical and efficient product and services alternative on shelf; many traditional business are struggling hard to improve their way of do things.

We need to ask and re-look our business everyday; and find a good reason or a few for the consumer – why they should shop/avail your service. Once you have it/those, make point to convey it to your consumer/prospect and educate them. By doing this, you might have to learn new things and while practicing such things – you might get feedback which would give more insight of doing things better.

Standing out from the rest – may sound big/tough or you may think it would cost us heavy! No, it is to do with passion. For a right passion we have to be up-to-date, discipline, continuous learning, educate our consumer/client and find an alternative for economical & productive way of doing business.

I would like to cite few examples. Every tooth paste advertises, but Sensodine (GlaxoSmithKline product) has done it differently and it is now the leading brand beating the World’s strongest brand. Their advertisement stands out and the message they give is clearer than others. It is their vision to stand out from the rest.

Another example is Trader Joe. With 344 food stores in 25 states and Washington, D.C, Trader Joe’s is a perfect example of how to gain a competitive advantage in a crowded space by embracing the immigrant perspective. Trader Joe’s first opened its doors in 1967 in Southern California and today their circular vision to food retailing has kept their linear-thinking competitors on the run.  In fact, they take pride in not doing (or following) what their competitors do. Trader Joe’s has proven how cultural awareness can cultivate business growth, and a grass-roots marketing niche that draws viral consumer activity. From how they rotate product shelves and placement (they will literally change the schematic and traffic flow of their stores 180 degrees), to their unique product selections that are sourced from some of the most unfamiliar lands in the world, Trader Joe’s takes creativity and innovation to another level.   Their average store size is 8000 to 12000 square feet and designed to be modular. This feature alone keeps competitors off-balance, because they can’t retaliate.   At Trader Joe’s you feel that you are shopping in a high-end farmers market. They are fearless in their approach to retailing and they are experts at explaining their unique product offerings to their customers with clever point-of-sale signage on the shelves (that many of their own employees create). Additionally, they offer the most consumer-friendly monthly newsletter, titled The Fearless Flyer that shares recipes, product origin stories and other non-traditional insights that further promote the treasure-hunt experience.   They are passionate about introducing something new that in turn challenges potentially new and existing vendors to remain active in their innovation efforts.

When we do things – there are many good reasons in those for self as well as for our consumer and clients. The good reasons for our client/consumer need to be made VISIBLE to all including our prospects. We have to be passionate about doing things. Our Unique approach in everything we do would attract better result. Our scope for better is nothing less than others have.

I would like conclude with Steve Jobs’ say, “Your time is limited, don’t waste it living someone else’s life. Don’t be trapped by dogma, which is living the result of other people’s thinking. Don’t let the noise of other’s opinion drowned your own inner voice. And most important, have the courage to follow your heart and intuition, they somehow already know what you truly want to become. Everything else is secondary.”

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