How To Take On An Established Competitor
photo credit: tinou bao
Finding an establish competitor is not necessarily a reason to give up on your business idea. True, in some ways, it will make it harder. But it does prove that that a market exists for your product or service. The Netsetter has detailed six strategies to take on an establish competitor:
- Specialize / Subniche
- Dramatically Change the Product Features (and Yes, Price is a Feature)
- Position Yourself as the Alternative
- Internationalize
- Generalize / Superniche
- Parallel Niches
The core idea behind all six strategies is really the same – differentiation. It’s hard to win in a head to head battle when your opponent has massive advantages in size, recognition, cash, audience and brand. So if you’re going to challenge them, the best thing to do is get them off their home turf. Using this secondary battleground you can build up your own size and strength until you’re finally ready to turn around and give them a run for their money.
Jaclyn on March 19th, 2009 8:26 am
Granted, competitors can make thing’s in business harder for you, but i do think that they provide good thing’s as well. having competitors i believe keeps you on your toes as far as running your own business is concerned…it doesn’t leave much room for you to slack back on your business knowing you have competitors out there and you need to stay focused. plus having them also offer’s alternatives, if they don’t carry something…you can!
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