I was shopping for batteries yesterday and thought this was interesting regarding Rayovac’s branding strategy.
Me too, comparing your brand to the competition, or we do the same only cheaper are all poor options for a branding strategy.
Small companies often make the mistake of trying to do it cheaper than the big guy. The danger in this is that the big guy can almost always do it cheaper. The reality is that someone has to be the most expensive, have the most profit built into a product or service. Why can’t it be you?
In every market there are people willing to pay more, to buy the most expensive thing. The key is to figure out how to frame your story in a way that appeals to that segment of buyers. Going through a few Business Tips for Starting Your New Venture can help with this. A Porsche Cayenne and a Volkswagen Touareg are essentially the same vehicles. But the buyers of each brand tell themselves completely different stories about why they buy what they buy.
The key is to figure out what your customer is really shopping for. Don’t except value as a final answer, dig deeper.
There’s nothing wrong with being the low cost provider, if that’s your strategy. The problem is that most businesses end up there by mistake.
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