Tag: product strategy
Hit by a flash of inspiration, you decided one day to pursue your dream.
You are all fired up and raring to go. After slaving away for goodness knows how long, you have perfected your recipe for world domination.
Can you compete with the above brands on scale, distribution and price? (image source)
In the world of consumer businesses, there are probably three main ways to differentiate yourself from the hoi polloi.
The first way is to level your competition by beating them on price, variety, convenience, and distribution. And while you’re at it, look at meeting the lowest common denominators in consumer needs and wants. Huge consumer retailing outfits like Walmart, Target, 7-Eleven, Amazon and Carrefour are examples of companies adhering to this strategy, and so are major FMCG manufacturers like P&G, Unilever and Nestle.
Something wrong seems to be happening in the hallowed corridors of Tech.
First, we’re met with the “dynamic” and ever changing new Facebook News Feed which apparently is riling many of us. Between “Top Stories”, “Recent Stories”, “New Entries”, and the ever updating Ticker on the right which gives me a constant migraine.
One of the greatest challenges faced by theme parks, zoos, museums, and other visitor attractions is that of getting one’s visitors to keep returning. While adding new rides, exhibits and enclosures can help to draw repeat patronage, their prohibitively high costs make such strategies unfeasible over the short term.
What then should one do to renew one’s product and keep guests coming back?