Standing out in a crowded market

In a competitive market there are only a few ways you can distinguish yourself: price, product mix and service. How you brand your company and your products feeds into each of these different components and it is important to know how you stand apart from the crowd, so you can successfully convey that to your existing and prospective customers.

Pricing: a double edged sword

Price is an interesting way to set your company apart; if you manufacture in-house then you have a lot of control over price so you can use different hardware or materials to hit the right price point, whereas if you outsource your products then you’re at the mercy of your suppliers to maintain their prices. Offering a price lower than the going rate is a proven strategy to get market share, and if growth is your priority then it is absolutely the way to go. It does, however, potentially build a rod for your own back when you have developed a customer base that relies heavily on cheap prices because you’re not fostering a relationship rooted in

Product Mix

Service

Using service as a way to brand your company doesn’t just mean producing the perfect product and delivering it on time, because that isn’t living in the real world! Customer service is pushing to produce everything to the best standard you can achieve within the desired lead time, and coming up with a solution when