7 Keys to Marketing Genius: No Advantage
The following is an excerpt from The 7 Keys to Marketing Genius by Michael Daehn
If you find no unique strength(s) for your company or product then there is no competitive advantage. If this is true in your case, I recommend you do not spend any more time, money, or other resources in development. Either find a way to differentiate or find another way to make a living. Fortunately there is the ability to add value through great service and by creating and sustaining relationships with customers (Key 5).
If this is true, why are there so many companies out there that are doing the exact same thing as their competition yet continue to exist? Some companies have found a way to communicate a unique market position to their customers, even if it is only a matter of perception. Some have great relationships with existing customers and are subsisting on their patronage. For others, it is just a matter of time until a shake-out narrows the field and puts them out of business, as witnessed by the demise of thousands of mediocre Internet companies in 2000.
To use scientific terms, “only the strong survive,” so a thinning of the herd will take place sooner or later. Science also teaches us that only one species at a time can occupy a particular niche. The same is true in business. If you do not have a competitive advantage then you will not survive.