Know-How Exchange : Branding

Dear Victor,

Your greatest strength lies in the fact that you were first to come out with this thing, whatever it is.

So dominate your niche. Control it. Rule supreme. Own it.

When imitators pop up like daisies, tell your prospects and customers, employees, and primary stake holders that yours is the original, the first, and use a good portion of your profits to work WITH your customers and your employees to ask them how they'd suggest improvements for your dohickey.

Then ACT on what you learn.

The Japanese call this total quality management. The theory is that it's EVERYONE'S responsibility to ensure the success of the product and to contribute to that success, no matter how small or seemingly insignificant.

Evidence that you accept other people's input will instill tremendous confidence and prove to your customers and employees that you know what you're doing, and that you care about their opinions.

It's from these bricks and this mortar that you'll build your all important brand loyalty. Without brand loyalty you won't dominate your niche.

No doubt far wiser minds than mine will add far more to your arsenal than you'll get from my humble two cents' worth. But my outline above is based on practical experience and observation.

I hope it helps. Good luck to you.

Gary Bloomer
Wilmington, DE, USA

By innovating. The first to market has a big benefit, but a big cost as well: you're educating people about the new product category. Once people start buying your offering, then others may follow in your footsteps at a lower cost of entry (they didn't have to pay for education). But instead of reacting to new entries, plan ahead for innovations, especially based on user feedback.