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Posts Tagged ‘competitor research’

Can I Find Your Product In Anytown, USA?

Have you noticed how certain shoe brands are sold exclusively in limited retail outlets? How about clothes, ever notice some brands can be found all over the place, and yet others are only found in major cities? Notice how you can’t just go into your local office supply store and purchase a $2,000 gold-cased Montblanc writing instrument? Ok, then you recognize that where you distribute your products/services is an important component of a branding strategy!

Did you know your branding strategy should help define your distribution channels? It should be a guiding principle when determining exactly how you want to position your product or service in the marketplace. This applies to both products and services alike. Here’s a few examples:

If the Price Point for your product or service is →

Low

Medium

Premium

Distribution channel options mass outlets, big box retailers/events, general business events a little harder to find, more niche networking events selective locations, not too accessible for the masses, maybe exclusive
Features to market Quantity is most important – highlight accessibility Mixed – highlight easy accessibility with quality Highlight quality features, “you get what you pay for” also works here
Advertising Blanket the market with local/regional/national ads, you have a ton of competitors Find industry specific promo outlets, publications, websites to advertise on Selective, targeted ads in niche publications/ websites to reach your target market

In order to choose the best distribution channels for your business, you need to identify the heart of your business offering, your true core competency. So many people think their products and services are special/unique/rare and there’s nobody out there offering the same things. This is simply not the case! The key is to know your competition, know who’s offering similar products and services, and position your brand to compete. Where you distribute your products and services should be a factor in the development of your brand strategy.

Ciao,
Miss Kemya 

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Learning Across the Globe From Your Comfy Chair

If there’s a subject you’re interested in,  you more than likely do a quick search online to find out details, right? You can apply the same principle to your ongoing business education. With so many social media platforms launching on a regular basis, you can easily stay abreast of hot topics in your industry from your comfy chair. Here’s 4 quick methods you can use to stay current with your industry’s trending topics:

  • Virtual trade shows – This concept is gaining in popularity, and it’s a great way to hear industry-related speakers and topics in one place without the travel expense.
  • Online events, such as webinars, tweetchats, and facebook chats.  I attend at least a couple of these weekly to keep current on trending topics and stay in touch with colleagues and competitors. Did you know many webinar hosts will provide a recording of their webinar if you pre-register?
  • LinkedIn Groups – there is a wealth of industry specific information being shared right now on LinkedIn. Become a member of relevant LinkedIn groups, subscribe to receive updates, and participate in the discussions.
  • Read websites/blogs that relate to your field and subscribe to their RSS Feed. It’s like building an online textbook one article at a time.

Making It Work:  Add these events and activities to your calendar the same as you would if they were in person. 

Did you notice there are no physical boundaries with any of the above mentioned methods? One hour I might be chatting with someone in Australia, the next hour I’m watching a presentation in Canada. Don’t limit yourself or your business!  Just because you’re already established or done with school doesn’t mean the learning is over. Join global conversations, stay current, and ensure your piece of the profit. You can literally get an international education from the comfort of your home.
Ciao,
Miss Kemya
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