Archive for the ‘Competition’ Category

How to Respond Effectively to Negative Advertising

Tuesday, October 31st, 2017

For many businesses, connecting with and selling to a target market can be challenging enough on its own. But, when a competitor jumps into the mix and badmouths your product, service or entire company, an entirely new front opens up. Consider a local grocer watching TV when an ad comes on from a competitor discussing how the local grocer’s produce is not as fresh as the competitor’s and that its product selection is less expansive. Many marketers and business owners struggle with how to respond. Do you ignore the attack? Do you hit back? (more…)

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Competing with the Big Guys: Leveraging a Narrow Niche, the Personal Touch and Agility

Thursday, June 1st, 2017

Whether you’re a startup looking to break into an existing market, or an existing business looking to branch into a new product or service line, it can be intimidating to survey the competitive environment and find yourself potentially face-to-face with behemoth multinational corporations and Fortune 500 companies. While a mega-competitor could, theoretically, direct its massive resources into forcing out an upstart competitor, there are some ways to compete by exploiting the advantages small can have over large. (more…)

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The Power of Suppliers: Are You At Risk?

Tuesday, April 18th, 2017

Michael Porter’s Five Forces framework uses industrial organization economics to evaluate the attractiveness of an industry based on the overall level of competition within that industry. The more competitive an industry, the lower profits will be. Conversely, an industry with little competition is likely to be more profitable and, therefore, more attractive. We’ve already written on the Porter’s Five Forces generally. Now we’re looking at each of the forces individually and in greater detail. Today we’re taking a closer look at the supplier power. (more…)

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Marketing Planning: An Ongoing Process

Friday, September 4th, 2015

In an industry like marketing that’s driven by having its finger on the pulse of cultural trends and attitudes, a major fear is becoming stale, outdated or thought of as “yesterday’s news.” At the same time, there’s a very real danger in being too quick to move away from the tried and true, especially in established businesses and industries. So, with the obvious need to strike some sort of balance, the clear question becomes, “How often should I update my marketing plan?” (more…)

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If You’re Not Unique, You’re a Commodity. Why You Need to Stand Out.

Friday, August 14th, 2015

For businesses of any size, the ability to communicate to prospects and customers about why you’re different, and better, in ways that are meaningful to them is critical. Many fail to do so effectively, however. One key issue we often find with clients is a tendency to be too internally focused — they communicate with their audiences in ways that are meaningful to their business, but that may not be so meaningful to their customers.

For example, (more…)

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The Biggest Hurdle to Overcome In Your Brand Building Efforts: Reality

Monday, March 30th, 2015

Marketers are understandably concerned about building and protecting strong brands. An Economist article from last year discusses the power of brands.  “Brands account for more than 30% of the stock market value of companies in the S&P 500 index, reckons Millward Brown, a market-research company. Everyone knows that a Ralph Lauren Polo shirt costs more than a polo shirt; Coke without the logo is just cola.”

But, brand-building efforts are sometimes misguided– (more…)

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Selling Yourself, or Your Services, on LinkedIn

Thursday, May 22nd, 2014

Social media – and particularly LinkedIn – has emerged as THE new method of job search, providing significant benefits to both job seekers and recruiters. I’ve been a long-time LinkedIn proponent and use it extensively for my own professional communication needs. I also highly recommend it to the students I work with each semester as the “go to” resource for job search–whether looking for internships, freelance opportunities or full-time jobs.

In fact, at the beginning of each semester in one of my classes I like to use it as an introduction to “selling something” — in this case themselves. And, truthfully, the steps and process for selling yourself or your business services via LinkedIn are absolutely the same as best practice marketing for any product or service. (more…)

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The Yin and Yang of Finding–or Being–an Online Expert. Beyond Smoke and Mirrors.

Wednesday, November 27th, 2013

In the “old days” finding experts was largely limited to identifying them through academic circles or highly regarded trade and professional publications. Experts were, in essence, “vetted” and those seeking their input could rely upon their veracity, authority and credentials. But, things have changed. Today, quite literally, anyone can be positioned as an “expert”–whether they really are or not. This has become possible because of the World Wide Web and a plethora of online communication channels, including web sites, social media, blogs, etc. This is both a good and a bad thing. Interestingly, it is both good and bad for experts and non-experts. Here’s why:

(more…)

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Small Businesses and Local Advertising

Tuesday, December 4th, 2012

Should small businesses use local advertising? While this is one of those questions that can quickly be responded to with “it depends…,” if the market is a local one I do tend to believe that local advertising makes sense. And I’m not alone. Consider the increase in local online advertising among many marketers. Local online advertising was predicted to surge by 18 percent in 2012 to $18.5 billion

, according to paidContent.

The bigger the world gets, the more opportunities to leverage a small circle of influence I think. Just as when generating followers, friends and fans through social media (more…)

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Are You Prepared to Become Obsolete?

Thursday, September 27th, 2012

While watching the local news my husband made a comment about the weatherman: “You know – who really needs him anymore? You can just look at the radar yourself any time you want to online.”

True. You can. Wonder if people going to school to be “weather people” have thought about that. Wonder if the schools that teach them have thought about that. And, most pertinent for this blog, wonder if all of us have given (more…)

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