Tic Tacs

By admin · Thursday, September 25th, 2008

Being from a generation that inspired harmless children's games like Tic, Tac, Toe, Ring-around-the-rosy and later Battleship, it became clear later on in life that these games had applicability to business. Of course, they took on different meaning and had more serious implications. The game of Tic, Tac, Toe has an interesting and predictable outcome, once you play it often and have an equal adversary - it is called stalemate. No matter how you initiate the game, the outcome is the same - both players end-up in a draw. Just like real-world business, right? Not exactly, however the desire in a business setting is to have an opponent that is less capable and possibly weak and vulnerable. That way the GAME - would be predictable and the Victor could walk away with all the rewards.

No pressure, little effort.

Only if today's volatile Market Jungle worked that way.

The challenge is that Competitors are not a roll-over and most companies approach the Game, with either arrogance or fear.

Either approach does not get the Win.

There are many articles, books and seminars that profess the new wave approach to business - minimize the focus on the competition -avoid being preoccupied with them -rather concentrate on your own strengths, unique capabilities and provide something distinguishable, which will stimulate Customers to beat a path to your door.

The Market will be yours.

Great promise and it has become fashionable.

Certainly, there are examples where this has worked - even examples where natural enemies collaborated, which is commonplace in the Defense and Military Market.

However, show me a successful company (that means sustainable, not a one-trick pony ride) that ignored Competitive influences and tactics and I'll show you (consistently) a train wreck.

How much attention should a company put on the competition?

It depends on the dynamics of your Target segment or niche and your company's appetite?

Do you seek leadership/dominance or are you satisfied being a participant or an also-ran? The sentiments of your Senior Management Team or Top Dog (CEO) are also critical to defining and shaping/molding how the rest of the organization views the Competition (and what they do about it).

Years ago, most organizations that we interfaced with would confirm that they were on-top of their competitors - meaning they were savvy and conversant about the competition.

When we dug-in, we discovered that their Marketing, Sales and Distribution Network had a few soundbites about the Competitor, but were not equipped to outpoint and outmaneuver them.

There were soft indications that the Competition had some feature set advantages or that they were using price tactics or unethical practices to take the business away.

That was it.

Let me ask you - if you were a CEO or Senior Manager in this situation - how comfortable would you be that your primary people that interface directly with the target prospects and customers everyday (representing your firm) were prepared to do battle and end-up the Winner? If anything, it would seem that you would be Victim not Victor - providing the Competitor put more energy and brainpower into developing a campaign (professionally) to exploit you. There are a few quick questions to ask, at this point:

How much do your people really know about the Competition?

(That includes fundamentals: Company history, financials, useful stats, value proposition, product mix, sales tactics, make-up of the distribution channel and key Alliances, unique capabilities, breadth of customer base, product roadmap, technology directions - futures, etc.)

How does your firm respond when a Prospect refers to the Competition?

(Especially, if they ask you just to list three areas where your firm outshines them)

A useful exercise is to walk in unnanounced into your Sales Bullpen and pose these questions to your key people - you will probably go into cardiac arrest, when you recover from their responses.

It's not their fault - they are mature and proven professionals - it is likely that there has not been enough attention put on these areas. Does your company invest in some level of training (consistently) to allow your Team to keep pace and stay on top of Competitors' movements?

Incidentally - having a Product Manager or Director of Marketing get up at an annual Sales Meeting and have a pre-wired, template that shows "worthless data" about the competition that is probably a year old and flawed - is a tragedy.

Has your Company ever put a program or campaign in-place, which was designed to generate new business at your competitors' expense?

If so, what was the outcome?

If not, why not?

This should be an element of your standard marketing mix.

Children's games are harmless or that is what we are made to believe, however what happens when they are carried into our mature business life?

Let's hope that Tic, Tac Toe does not turn into Hangman in your Competitive circle.

In today's financial meltdown and tough Market Economy, it is critical that there is a resurgence and focus on the Competitive element.

Define the customer's problem in your terms and you have a chance to Win.

Allow the Competition to define the problem in their terms and "shame on you." What is your Company's scorecard on how well you are doing?

Edmond Hennessy is a seasoned, well-recognized veteran in the COTS Embedded Market. He has authored many works including the "Mission-Ready COTS" Industry Guidebook, "COTS Supportability & the Life-Cycle Proposition" and "Beyond COTS: Repackaging, Reformatting & Tech Transfers." He has participated in key industry panels, has been a keynote speaker in E-casts dedicated to signal-processing applications and has been tapped as an industry executive to comment on disruptive and emerging technologies that impact the Defense & Military and Healthcare/Medical Target segments. Mr. Hennessy heads up the Performance Marketing Group (PMG), a private market consulting firm. His new book, Market Warfare: Leadership & Domination over Competitors is redefining the Market landscape. For more information visit http://pmgresults.com/

Article Source: http://EzineArticles.com/?expert=Edmond_Hennessy

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