What can we do to stand out from the crowd?
I was in Wal-mart earlier today shopping with my family. We usually try to go early in the morning when there aren’t many people out, mainly so we can get in and get out quickly. Well, I was standing there in the Canola cooking oil aisle when it struck me how many products there are at Wal-mart. There are tens of thousands of separate items, sometimes two dozen versions of the same item, and new items constantly trying to find their place.
I feel there are many similarities between Wal-mart and the real estate industry. It is a very crowded marketplace where it is difficult to get visibility. You have to choose your message carefully. Price is always a factor, but you can’t compete with the generic Wal-mart brand, as they will always be a little cheaper than your brand. At the same time, people will only pay so much for canola oil! It doesn’t matter how much healthier your canola oil is versus the competition, or how great of a brand you have (Wesson or Mazola). You get a small premium for these things, but the competition improves every day! In my mind, all Canola oil is the same, and so I go with the cheapest brand, in this case, Wal-mart’s Great Value brand. All of the other canola oils say they are the best, but I don’t believe them.
How do we achieve visibility in the marketplace and become the product of choice?
This post will not definitively answer this question, unfortunately. I think the answer is a moving target, that has to be constantly evaluated and reviewed. I found my personal answer on the next aisle.
Tony the Tiger?
Yup. Tony exhibits a lot of GR-R-EAT (pun intended) characteristics. I trust Tony the Tiger. He has been in the marketplace for a long time (since 1952), and has built credibility and trustworthiness over generations. It is a great brand, and is recognized immediately by name or by tiger. The message is simple and the product delivers consistent results that you can depend on. In my own personal product quality tests over the past 4 decades, I’ve NEVER had a bad box of Frosted Flakes. Hundred of different brands of cereals have come and gone, yet Tony the Tiger remains. In regards to low-cost alternatives, I’ve never considered the off-brand “frosted flakes”. I didn’t trust them. I trust Tony the Tiger.
This is how I want to be perceived in the marketplace.
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