Coconuts and Competition

Competition is everywhere. Its like coconut trees close together, looking the same, same nuts, but different taste in water when cut open. If you want to have a coconut, its easy if you know where to go, but it takes a coconut vendor who understands what customers want to ‘knock and cut open’ the one requested -the first time! This coconut lesson reminds me of competition, sales and marketing differentiation.

This global village keeps getting bigger and smaller at the same time. Bigger in choice selection and smaller in differentiation and uniqueness. What’s different is a familiar question consumers ask vendors, as most things with price, product, place, and promotion are the same. Two main differences entrepreneurs and business people can work with are presence and popularity with people.

Presence is about being present in a place where you can be seen. Your visibility as it relates to growing your market. Social media ‘presence’ is expected for all goods and services, and this can drive customers to you or keep them from your competitors. Simply having a website or business pages on several social media platforms is not enough. How you persuade consumers to buy/ do business from you is directly related to ‘presence’ /communication/ and influence.

Popularity with customers comes from the perceived value they receive or others receive and review. Online feedback and reviews are big with helping build popularity. Likeability, approval, admiration are responses that can fuel positive engagement, but its not enough on its own to help increase demand. There are some key factors that help with popularity the main one being availability, second to this is ‘value added performance’. If your product or service cannot meet demand then its popularity will diminish, and if its not consistent with its value added performance – that information will spread in negative reviews.

Competition is everywhere, thus, distinguish yourself so you don’t get hidden in plain sight!

Before you go….

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Thanks and Keep Safe.

Donna-Luisa

“Give hope to all you meet and watch the world grow.”

New World/New Business

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