In today’s consumer world we are all bombarded with choice. Choice of more suppliers, choice of more products, and every one of them promising to provide better service.
It doesn’t have to be January sale time to see that everyone is competing on price as well.
In consumers’ minds this can be a turnoff and cause decision paralysis.
Add to this volatile mix the new threat of disruptive and innovative new business models such as Airbnb and Uber and you had better watch out. You may not be in accommodation or taxis but if you’re not yet struggling against serious competition you can be sure you will be faced with similar challenges soon.
Repositioning is the key
The way to beat this challenge is really quite simple, but most businesses just don’t get it.
It serves us well to recall what Peter Drucker, the father of business consulting said years ago.
“The single purpose of a business is to create a customer, and the business enterprise has two-and only these two-basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.
“Marketing is the distinguishing, unique function of the business.”
In most businesses, owners and managers spend their time in the day-to-day whereas they