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|If you have competition, here's how to make them irrelevant.
I recorded these (360º) videos at this excellent ProductCamp Atanta session on Saturday, 17 September 2016.
The total running time is less than 45 minutes.
Video 1 of 4
Video 2 of 4
Video 3 of 4
Video 4 of 4
Blue Ocean Marketing: Tricks with Pricing | How to Turn Your Business into a Gold Mine
Knowing how to position your pricing relative to your competitors is critical. Do you want to be the most expensive or the least expensive? Choosing the correct pricing model affects how you bid, how you offer customer service, and how you handle price changes in the market. The correct business decisions to make are radically different in each, and being somewhere in the middle can muddle your choices. If you don’t know which model you are following, you are probably leaving behind money... a lot of money. In this workshop, you’ll learn how to determine whether you should produce premium products or be a cost leader. Then you'll learn what to do with that information to be wildly profitable. You'll learn: • How to know if you are premium product producer or cost leader and why being neither is a recipe for disaster • How to properly discuss which you are in your advertising, promotion, and even elevator pitches. • When to make changes in your pricing and when to sit tight • How to respond to bids to maximize your profit • When to discount your products and when to say no • How to invest the right amount of effort in customer service and technical support • When to put your resellers to work for you on the front line and when it’s a bad idea
Atlanta Product Camp
Ponce City Market
Saturday, 17 September 2016
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|Thanks. I'm going to listen to those one day because it looks like critical information -- especially the part about needing to know if you're a premium product producer or a loss leader. I did a quick scan and heard him mention this term: Blue Ocean Strategy. I found their Web page that summarizes it (https://www.blueoceanstrategy.com/what-is-blue-ocean-strategy/" target="_blank">link).
Here's one of the Blue Ocean strategy points ...
It creates uncontested market space
Blue ocean strategy doesn’t aim to out-perform the competition. It aims to make the competition irrelevant by reconstructing industry boundaries.
I'm a firm believer in this proven fact ..
"The world won't always beat a path to your door even if you have the best mouse trap"
That's especially true if you sell a product or service in an overcrowded market. Everybody and his dog seems to haved tossed a hat into the virtual tour business. Blue Ocean may say "that doesn't matter." Many successes occur by out-marketing your competitor. As Bill Gates once said, "If you show people the problems and you show people the solutions, they will be moved to act."
I'm always open to learning about marketing strategies that work. Maybe there are some Matterport pros out there who have all kinds of elaborate, effective marketing and advertising strategies going on that help increase their profits.
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