The ability to raise prices due to any crisis, real or imagined, will eventually abate. Many companies are hurt by Covid while a great many are making great hay right now. At some point, companies will return to a familiar spot – striving to justify increases. One industry that is now a major contributor to…
We know competitive advantages come in many forms. We will share Wall Street Journal summaries** on both stores and our cautions. Dollar General is best known for locating in the hinterlands of rural America. Middle of nowhere is where they have been successful. They usually lease rather than own stores and pay low wages. That…
Most companies have KPIs – Scorecards, Dashboards, etc. Most KPIs are financial or sales performance. While they are useful, they have rarely been improved to take advantage of current technology. Forests of data exist within every organization. Most companies have access to more data than they know how to use effectively. Given the data-heavy technology…
Imagine if you had to produce the world’s best widget or deliver an exceptional 5-Star service experience to your largest customer, once every four years. How different would your organization look? Like athletes you might feel pressure to try multiple options or techniques or processes to achieve the most perfect result possible. Of course, most…
Four ways to gain competitive advantage We are often asked how organizations can better differentiate themselves in highly competitive industries. They understand that not being able to stand out minimizes their ability to secure new business without lowering prices. Those organizations that do a better job at differentiating – and communicating their differentiators – cave…
Before the pandemic, many businesses struggled to attract new employees. They struggled with the answer to this question: why should someone work for your organization? With so much competition for good talent, businesses must have a compelling response. After pandemic layoffs we have now come full circle, and organizations are once again struggling to find…
We are often asked how organizations can better differentiate themselves in highly competitive industries. Organizations understand that not being able to stand out minimizes their ability to secure new business without lowering prices. The organizations that do a better job at differentiating – and communicating their differentiators – cave in less often. Here are a…
The sales team in an organization is the lifeblood of any business. They not only ensure the sales of the entire company are ongoing and profitable but also focus on customer retention, repairing and upholding the company’s reputation, and selling the brand of the company. This article discusses eight specific strategic factorsfor a sales team…
Within the last year, many industries experienced drastic pricing pressures in response to rapidly shifting buying patterns that left many markets with excess capacity (think of airline seats and hotel rooms during the pandemic when travel evaporated). If you happened to travel and needed a hotel room during that time, you likely experienced some of…
What is a price war? A price war is when one supplier (usually) believes they can secure more market share by lowering their price. “If we cut our prices, we can drive up our sales volume,” these companies’ leaders say. The war happens when competitors lower their prices in an effort not to cede market…
