We Shouldn’t Duplicate ... Should Differentiate!

In today's increasingly competitive marketplace, the demand for specialized products or services will increase. If our business sells everything or to everyone, chances are our audience will not perceive any greater value in buying from us than from anyone else. If so, price becomes the only of parameter by which visitors will compare us to others.

Keep in mind that price is not important. It is an arbitrary figure that merely represents the value of an offering. When you compare apples to apples, the only point of comparison is price since it is the only real, visible distinction between the two. Thus, if *our* value is perceived as equal to that of others, naturally the cheapest alternative will win.

Price is only a standard of measurement -- a currency to which most people can relate. Take the weather, for example. When we meet someone on the street, it will likely be a topic of discussion because the weather is a common denominator. Temperature is the same for everyone. "Hot" and "cold," however, are different.

Similarly, price is only used when there's nothing to which one can compare our value. (Of course, price is not the only parameter. But most people understand units of taka more than they do value, which is more subjective.) Therefore, if we're too similar to competitors, price will always be an issue.

The more unique we are, the less competition we will have. And the less competition we will have, the less substitute we are (or our product is). And the less substitute we are, the less price elastic of the demand for our product will be. 

So, if you are copying your competition, or trying to promote your offering as one that's better than your competition, like it or not you're only reminding people of that which you are better: your competition. So, we shouldn't duplicate, we should differentiate!