Road Trip

I recently took a road trip in the South East and observed something I have written about in the past.  How unexciting automobiles are today.  Most sedans look the same.  Most SUV’s look the same.  We live in an automobile land of blandness.  I understand the concept of “functionality.”  But a car, at least to me, elicits an emotional response.  I will confess that I love cars.  There are exciting cars out there but they are clearly in the minority. 

First of all, most cars come in dull colors.  And, most are only one color.  This adds to the “blandness” of the auto landscape.  Next, most cars look the same.  It is really hard to  tell the difference between most makes.  When I grew up, I knew every car and every model because they looked unique.  Now, there is little differentiation.  When a “new” design comes along everyone gets excited…  look at the “Smart Car.” 

So, how does the industry break out and do some innovate product development?   Start with color…  let customers choose from a wider range of  colors and look at the car as an object of art.  Thus, there must be things you could do from an appearance/paint point of view to liven things up.  Remember the two-tone cars?  Even Rolls Royce used to provide such an option.

Next, seek radically different designs… perhaps by demographics…. cars for young women, retired men, etc.  I recognize that the manufacturing process puts significant restrictions on any customized and unique approaches.  But, this is America… I am sure great minds can figure out a way!

Let’s rid the roads of blandness!  

Rich

Bizvice:  Business Strategy, Marketing & Entrepreneurship

Individual Marketing Customization

I have written in the past about personalization of products and services to meet the differing needs of individuals.  A recent interview with Bill Gates of Microsoft fame reminded me that individual marketing customization is just as important to the immediate future of marketing programs.  Indeed the opportunity to customize messages to specific individuals is at the very foundation of the boom in marketing via the Internet.

If, as a marketing approach, a manufacturer could target specific individuals with a specific and relavent message about its product and could truly monitor whether those individuals responded by buying the product then enormous efficiencies would accrue to the entire marketing budget.  How specific can you get with both the individuals “targeted” and the relevance of the message is the critical question.  In the future, I believe you will be able to get highly specific on both counts.  For example, if you were selling cell phones and you could identify those potential customers who wanted a specific type of cell phone with specific characteristics (e.g.: camera, voice recorder, phone book, etc.) and you could deliver a specific message about such a phone to those customers then your marketing dollars would be much more effective.

Finding your key customers on an individual basis is the trick.  So, experiment with the “new media” available today.  And, be sure to link your experiments to actual sales data whenever possible.

Rich

Bizvice:  Business Strategy, Marketing & Entrepreneurship

Sustainable Competitive Advantage

Sustainable Competitive Advantage is, perhaps, the most important characteristic of a successful Company, Product, or Service.  Without a competitive advantage that is either real or perceived by customers that can be sustained over time, the prospects for a successful business is slim to none.

How do you know if you have such a sustainable competitive advantage?  Do your homework!   What are the critical differences between your service or product and your competition.  Have you researched this difference with your customers?  Do they agree that what you are providing is clearly and meaningfully different and better then competition?  Is this differentiation sustainable over the long-term as a result of patents, unique technology, unique manufacturing capabilities, etc.?  This is the point in your business development where you really need to be objective and honest with yourself.  If your product or service cannot live up to this type of scrutiny, then you probably should not pursue that service or product business.

So, get a good research partner and get the answers to the questions above before you go to far.   You will clearly benefit in the long-run.

Rich

Bizvice:  Business Strategy, Marketing & Entrepreneurship