Pulling away from your competitors - the two keys

[240 is Back]

Create a new product/service offering which they cannot copy...

1) QUICKLY, or

2) ECONOMICALLY.

When Delta offerred freq flier miles, everyone else started offering them the next month.  The only person who benefitted was the customer and it hurt all airlines.  Delta's competitors could copy QUICKLY and they could copy ECONOMICALLY in that it didn't cost a lot of money to change their prices.

On the other hand, when BK started advertising the "Broiled, not fried" campaign, they did it correctly.  McDonalds certainly could not copy quickly, as it would involve pulling many machines and completely redoing the cooking process.  It sure wasn't viable economically either, for the incredible cost of doing that.

Are there any other 3rd or 4th keys to delivering something new that your competitors cannot have the next day?

[bbinsider]

Personal and business relationships. It's called RAM.

[onlyme]

Create a new product/service offering which they cannot copy...

1) QUICKLY, or

2) ECONOMICALLY.

When Delta offerred freq flier miles, everyone else started offering them the next month.  The only person who benefitted was the customer and it hurt all airlines.  Delta's competitors could copy QUICKLY and they could copy ECONOMICALLY in that it didn't cost a lot of money to change their prices.

On the other hand, when BK started advertising the "Broiled, not fried" campaign, they did it correctly.  McDonalds certainly could not copy quickly, as it would involve pulling many machines and completely redoing the cooking process.  It sure wasn't viable economically either, for the incredible cost of doing that.

Are there any other 3rd or 4th keys to delivering something new that your competitors cannot have the next day?

BK's burgers are broiled and McD's are grilled not fried.  Big difference.  Why copy when there is no need.  McD's knew that they had a burger that was selling millions a day and there was no need to change.  Here an airlines announces a deal and it is on the news and the other airlines match it.  Regular interisland airfare for the past few years has been about $80 each way.  A new airline called GO started last year here and offered a $19 each airfare.  Hawaiiand and Aloha had to match it.  Of course they lost money especially since they have so many more employees.

[Dos Equis]

Actually, there is nothing wrong with copying ideas (not talking about patents, trademarks, etc.).  Many successful people use the concept of modeling, where you find someone who has done what you want to do, and copy them.  Tony Robbins talks about this in one of his books (forget which one).  I've done it for years.  I always try and learn new ideas from people more experienced than me and adopt various things they do. 

But at the end of the day, it's about integrity, the pursuit of excellence, hard work, and customer service, for the most part.  Doesn't really matter what kind of work you do. 

[onlyme]

Allot of things are copied.  What counts is who provides the best.  The "Original" always has an edge but copies can be made better.

[Dos Equis]

Allot of things are copied.  What counts is who provides the best.  The "Original" always has an edge but copies can be made better.

I agree. 

[240 is Back]

BK's burgers are broiled and McD's are grilled not fried.  Big difference.  Why copy when there is no need.  McD's knew that they had a burger that was selling millions a day and there was no need to change. 

There WAS a need.  McDonalds lost a great deal of market share to burger king.  If McD could have added broiled to the menu quickly with minimal cost, they would have done that in a heartbeat. 

[Lift Studios]

When I worked at a large Ad Agency, the print production manager always told me.

PRICE - QUALITY - SPEED

Pick two but you can't have all three.

I fully believe to this day.