How to differentiate your business?
Differentiation is hard in a world of copycats. However, one aspect of an enterprise is hard for the others to recreate and that is core business values.
Differentiation is hard in a world of copycats. The instant that a new idea or innovation hits the market, it doesn't take too long for the replicators to get down to work.
However, one aspect of an enterprise is hard for the others to recreate. Core values.
A business' core values defines what it is and what it aspires to deliver. Make this a customer-centric mission and you will be hard to beat. Take for example a healthcare services provider, a multi-specialty hospital in the secondary care segment (that is, barring heart surgeries or cancer treatment and neuro-care), which positions itself as a emergency response expert. It is bound to win on that strategy because all heart attacks don't go onto the operating table immediately. A stroke requires immediate intervention of dissolving the clot in the brain! So, what is required is immediate medical attention and not surgical intervention, which, if one were to seek, travelling great distances to reach a super-specialty tertiary centre, might result in deterioration of the patient's condition and sometimes fatality. Hence, the need for an emergency services provider...
Positioning your enterprise, therefore, is not a spread-it-all-out-on-the-mat exercise but a showcasing of a specific strength or core competence, which will then effortlessly highlight the allied products and services. Several large corporate houses have leveraged this projection of core values to extend the brand into multiple product lines to their advantage.
One such is the Tata Group. What comes through with every group company's tagline or positioning, is experience, reliability, trust, quality and value for money. Above all, leadership. Not surprising for the oldest and most valued brand in India.