Segments and Competitors: Divide and Conquer

This week there were two articles packed with little morsels of market advice and competition analysis. These were very interesting to me and motivating. They discussed methods of controlling your success and limiting your chances for failure. Pointers like this are always nice to pick up so you feel more directly in control with your ventures success (instead of it being a wild gamble, although they can be pretty exciting at times).

With targets and guidelines like this weeks reading suggests, being an entrepreneur or marketing is not risky at all! The risk is just actually the danger of you walking into a market without enough knowledge, background research, variable observation, or well thought out positioning. You don't have to be necessarily better but different. An excellent distinction is between horizontal and vertical positioning where 2 products could have a varied relationship. If A is better than B and cheaper, then A wins always. But if one isn't arguably dominant to the other, there can still be success for both. Additionally head on competitions seems a bad choice. You can prepare and change what market you target specifically, you are never married to one customer profile, ESPECIALLY if you want to survive.

On topic of competitor analysis, like last weeks reads, my eyes were opened to be really creative with how I view competition. Making sure to take into account all people that not only do what I do but anybody who satisfies my customers need, peace of mind in purchasing musical instruments. That allows more indirect competitors to be labelled like instrument salesmen (even though they could use my service to benefit them too), repair shops, anyone consulted during the instrument shopping phase of a musicians life like mentors and professional performers.

With all these tips on how to better your odds in the market and success, what REALLY can't you control to ensure success?

If your positioning is really strong, all you do is wait for them to click purchase?