How can you set a new basis of competition? There are many ways – and they must not always be technology-driven. The “Intel Inside” sticker shaped the industry, creating new perceptions in the minds of customers. It had no microprocessor in it, but it took down competitors. Tesla’s aspirational & evolutionary business model has made it a software company that sells cars. Yes, the car keeps getting better provided you keep paying for new software updates!
Across markets and territories, sometimes, besides the technologies, you need xfactors to separate yourself. Look for xfactors in that business.
I have noticed one thing: a simple refund policy could increase sales in Nigeria! That reduces the inertia for the customers to pay. And if you have a really good product, you will win more customers. Find ways to do better with what you have, right now!Join Tekedia Mini-MBA which begins on Monday for a roadmap.
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Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.