Good Natured Competition

                            The Spice of Progressive Business

 

              by Dr. Benjamin Okeagu

 

              A dear friend of mine sent her ad to be typeset and run to hundreds of thousands of eager

              prospects as promised by this really big and famous ad broker. The only problem was… my

              friend was also in the ad brokerage business. Well, weeks later, the big and famous

              brokerage firm returned my friend's order, explaining that since she posed a competition,

              they were not inclined to do business with her! My friend then quipped, "Oh well, since

              they are so worried about my business, I'd better give them something to really worry

              about!"

 

              Another incident involved Murry Broach, who amassed a vast fortune from

              writing and selling what he called "specialized information." Murry was once

              marketing his latest book on how to make a fortune buying and selling

              merchandise seized in drug raids. It became an instant hit, and soon enough, the

              copycats of the industry started marketing their contrived facsimiles of his book.

              What did Murry do? He reached for his "unique selling proposition, a good

              unique selling proposition comes from product benefits… benefits you offer that

              someone else doesn't or you offer it better." Buoyed by his unique selling

              propositions, Murry's sales far outpaced those of his competitors combined!

 

              The point to these two accounts is that competition in any business can be good

              for business. In fact, sometimes it is the nature of competition you're getting that

              tells you you're onto something HOT!

 

              What is the value of competition in business? Consider the auto industry. Years

              ago, the "Big Three" enjoyed a virtual monopoly. But, at the same time, a

              common perception that American-made cars left too much to be desired in

              quality and customer satisfaction. Along came the Japanese, and the Big Three

              soon became embroiled in the fiercest kind of competition… one that, insiders

              say, even threatened their very existence at one point! Was this bad? Hardly! Just

              take a look at the state of the industry today. An industry that was once

              perceived to be aloof and arrogant now revels in favorable ratings for quality and

              customer satisfaction. The Big Three have even taken to forming widely

              publicized consortia, to further accentuate the quality of American-made cars.

              "Continuous Improvement" is a philosophy that appears to have become indelibly

              seared into their collective corporate subconscious minds! And the real winners

              are of course the consumers, who can now buy with the unflinching assurance of

              utmost quality. If it does nothing else then, competition awakens us from

              self-serving complacency, and launches us on a quest for excellence.

 

              Competition is a way of life. If you come across competition, confront it with your

              "unique selling propositions." Your unique selling proposition is the one intangible

              factor that influences your customers' expectations, while your products/services

              ultimately deliver on those expectations. Your customers will continue to

              patronize you based on your PRICE, QUALITY, and SERVICE.

 

              Dr. Benjamin Okeagu is the President and CEO of Resources Marketing Group. His

              writings are widely read. He specializes in helping serious entrepreneurs achieve a

              spectacular income with their own prestigious, low-cost Internet consulting business,

              even if they don't own a computer. For complete details, please send $2 for postage &

              handling to: Resources Marketing Group, P. O. Box 1743, Troy, MI 48099.