Quality is the key route to increasing market share. Market leaders tend to
share several key characteristics: They tend to have higher quality
than their competitors. They compete on quality not price. They tend to
benefit from unique proprietary rights such as copyrights, distinctive
trademarks, patents, and trade secrets. These proprietary rights
provide them with unique sources of quality. “Quality” amounts to no
more than delivering those products and services customers most want.
This type of quality is NOT the conformance to the specifications type
of quality that most engineers focus on, but is instead conformance to
customer wants of the type most marketers focus on. They needn’t be of
particularly high quality just superior to that of your competitors.
Don’t buy market share with low prices. This is self-defeating and
capital intensive. The value of what you gain is eaten up by its cost
of acquisition.
Market Share Battles (RoE) is a list of 24 rules of engagement for enterprises engaged in battles to take or defend market share. Click here to download a complete list of the rules.
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