First Implement A Market Follower Strategy
Then Become A Market Leader As Success And Resources Grow
Market Followers possess a core competency that enables a competitive advantage but have much less resources than the market leader. Associating with a category led by a prestigious market leader enhances their credibility. Position against the category gold standard in the areas of cost, ease of use, convenience, design, reliability, performance, range of selection, service and location. A successful follower may eventually become a leader as they build their resource pool and create their own compelling story.
Begin by narrowcasting to build a high share of your defined niche market. Always innovate - products, services and processes. Build complementary partnerships that help you to sell a total solution. Your pricing strategy must enable gross margin and cash flow to contribute to the goal of becoming a market leader.
The key to success will always be your strategy for optimizing the customer experience. This is the best way to differentiate your company for the long haul.
By John Bernardi