STRATEGY — by Ray Costello

Why Being 'Better' Isn't Enough: The Art of Market Domination

If you cannot differentiate yourself, you are a commodity. And commodities are bought based on one thing only: Lowest Price.

If your answer to 'why should a customer buy from you' is 'we have better service' or 'we are honest,' you are in trouble. Everyone says that.

The 'Domino's' Lesson

Domino's dominated because they created a Market Dominating Position: 'Fresh, hot pizza delivered in 30 minutes or less or it's free.' They solved a specific problem with a specific promise.

How to Build Your Fortress

You need an MDP that makes you the only logical choice. Stop competing on price. Compete on Value. If you don't differentiate, you die.

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