Wednesday, December 7, 2011
I have often wondered why the store owners have not tried to differentiate themselves from the other stalls. What would happen if a new kid on the block comes along and is able to sell the same kind of dumpling a lot cheaper and still earn a profit?
Am sure these stall owners will cry foul and make the life of the new kid miserable. However, give a few months and the new kid will be the only one who will be selling the dumplings.
The reason why am advocating small and medium scale businesses to develop their brand and differentiate themselves from their competitors is that it helps them to be first on their customers’ mind.
For guys, remember the time when you started liking a girl? What did you do to get the girls attention? You tried to be different and stand-out from the other guys! You wanted to prove to the girl that you’re the better (or in some cases, the best choice) among the guys courting her.
Some tend to be known as the Joker, the Hopeless Romantic, the Thoughtful One. These are the brands that they want to be known.
You paid more attention on what you wearing, saying and even how you acted; you tried to be more romantic and chivalrous. You simply had to put your best foot forward.
The same is true for the girls. They focused more on highlighting their assets. They dressed more elegantly and learned to acquire class.
If this is the case in courtship, why would it be any different in business? Business owners must realize that they are still competing with other suitors for the customer’s heart. To get the customer’s approval, the business owner must learn to differentiate himself from the pack. He must constantly prove that he is the best alternative.
By constantly striving be better, he would have placed himself at a very good position. And whenever a customer thinks about his company, he will think about the good qualities that the company has over others. Companies will be able to develop good will and loyalty.