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Competing Beyond the Product

by User Not Found | Feb 21, 2020

Strategy Analytics often works with clients to improve their market shares and performance. As products ranging from smartphones to consumer packaged goods mature, they often face increasing competition and commoditization as the underlying product value proposition has difficulty differentiating.

Particularly for products in the technology sector, there is a strong tendency to continue to rely on differentiation maintained through incremental feature enhancement and evolution driven by R&D. Continuing erosion of profit margins and market shares indicates that this approach is losing its effectiveness.

SA’s research for clients on consumer choice indicates that in addition to the economic utility factors driving choice, there are factors associated with the buyer’s connection to the emotional message and positioning of the brand related to that product. In many cases, these emotional factors and drivers have been overlooked as options for improving the differentiation perceived by the consumer for that product.

This paper examines some of the background and options for improving business performance through improving brand equity and brand positioning driven by emotional factors affecting buyer decisions. With proper research, the effects of leveraging emotional factors associated with brand in the buying decision can have last effects that can improve market share and enhance profitability.

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