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Dear ,
I've received quite a few emails recently asking basically the same question:
How Do I Gain Market Share In a Market
That Is Heavily Competitive (and Price-Sensitive)?
.
One of the easiest ways to do it is as follows:
You simply redefine the market and use your own terminology to gain positioning.
Let me give you this example...
It is fairly well-known that the best cotton in the world comes from where? Egypt, right? Go Egypt! (Fun fact: my grandfather was a cotton trader in Egypt.)
If you look around, you'll see all kinds of U.S. cotton products produced using Egyptian cotton: dress shirts, T-shirts, socks... and... high quality bed sheets). But, until now, everyone simply said their products were made using Egyptian cotton.
But doing that means they're all lumped in one big ball -- nothing distinguishable, nothing that makes them stand out over everyone else.
It's very hard to penetrate a market when you're all marketing essentially the same thing (and perceived as all being the same).
But, lo and behold... along comes a company called MyPillow that also makes bed sheets using Egyptian cotton (the same cotton many others are using) yet they call them...
"Giza Dreams" Sheets!
So, in essence, they've taken the best aspect of the cotton and created their own category: Giza.
They actually call the cotton "Giza." That way, they OWN that category -- and because of their trademark, no one else can call them Giza.
Did you watch it? I sure hope so.
What's also interesting is they never mention anything about it being from Egypt... they never use the words, "Egyptian cotton." That's on purpose because, if they had, they would be competing with every other Egyptian-cotton seller.
Smart strategy, right?
This is something you too can do for your product/service. Find a way to take the same product or service that everyone else is marketing and create your own category, name and positioning.
Until next time...
If you have any comments, ideas or suggestions, please email me at: nader@copticchamber.com.
