Most small businesses are established in response to market demand for a product or service. Many build their businesses by serving that demand and enjoy growing profits without putting much effort into long-term planning or marketing.
What happens when the competition sets up shop with a new and improved version of your product? How do you keep your offering fresh while growing and maintaining your client base? Innovate your business and offer extraordinary value by creating a market-dominating position.
Every choice you make when buying a product or a service represents a point of differentiation between one company and its competitors. These differences, subtle or distinct, determine which customers will buy what they sell.
Why Domino’s became a billion-dollar behemoth in an overcrowded market in just a few years? Did Domino’s make the best pizza? Do they offer comfortable in-house dining? They offered the largest selection and most extensive menu!
They dominated by adopting and implementing one primary strategy. They created a market-dominating position: fast, hot pizza targeting hungry college kids.
When you create your market-dominating position, you will consistently get businesses and individuals to choose your business over your competitors. What is a “market dominating position?” It’s simply any value-added customer-perceived benefit, or a combination of benefits, that differentiates you from your competitors. It makes your business the logical choice in the minds of prospects and customers.
Want to learn more about how to create a Market-Dominating Position? Email me at firstname.lastname@example.org for a free Discovery Call.
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