By Bill Platt
Sometimes, finding the right product or service to make your
own is to find someone else's version of the same product or
service and discovering ways to deliver it in a different way.
Someone once told me that I could not make it in a business
because there were already people in that particular business!
The thought struck me as stupid. That is why we have other
restaurants right. It was not enough to put a McDonalds in town,
we also had to build a Burger King, Wendy's, Carl's Junior,
Braums, Sonic and several more all of the local variety. All
of them offer us hamburgers, so why do we need more than one
of them?
Because diversity sells. They all make hamburgers, but each
one delivers the hamburger to us in a slightly different
fashion. Every single one of them are successful and have
been for years.
Just the other night, I read a story on the history of Root
Beer. They stated that in the 127+ years of history surrounding
the beverage, that there have been 8000 documented variations
of the same product. They believe that there may have been
100,000 variations of the same product, though they could
not verify the larger majority of them.
In today's market, there are just over 2000 variations of
Root Beer on the market. What differentiates one from another?
They all have the same basic ingredients, though they offer
some small differences in the ingredients. These slight
differences in the recipe makes for slight differences in
taste.
In the end, it is not the differences in taste that sells
more of one than the other. The difference that defines
market share is packaging and marketing.
So, make a determination of what your product or service
will be, then package it and market it in such a way that
people want your version as often, if not more than your
competition! Market your differences, not your similarities.
Diversity is the key to success. Packaging and Marketing are
the tools.
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