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The Seven Deadly Sins Of Marketing - Envy: Sin Three
By Toli Cefail
Why do executives feel they must do everything their competition does? The coveting of what the competition has is epidemic in board rooms.
The second the competition comes out with a product, companies rush to put forth one of their own. When the competition goes after a demographic, they rush to follow.
This competition envy or “copy-cat syndrome”, to coin a phrase, is prevalent in nearly every major consumer products corporation. The result is diluted brands all over the place.
Why is brand dilution a bad thing you say? Because it takes years and tons of dollars to establish a brand. Every time you branch off into a different product line you dilute the brand. Instead of your brand standing for the product, service and characteristics that made it famous, it now has to try and stand for this new thing. So it has less meaning and with multiple new directions the brand can eventually mean nothing.
Another industry in which envy is prevalent is Hollywood. Particularly in television. Whenever there is a successful show, the remaining networks rush to copy it.
Nowhere is this more obvious than with reality tv. 5 years ago there were maybe 2 reality tv shows. Today there are dozens. The marketing result is that sponsors are now spread thin over dozens of shows instead of choosing between a few.
No matter which industry you look at however, envy in marketing results in the dilution of your brand and a wishy washy appearance to consumers. The message then is stay focused on what you’re known for. Create new products and services based on what your customers know and love about your company and resist the urge to copy your competition.
Toli Cefail
Publisher
Marketing Expert Blog
About the Author
Toli Cefail is a veteran marketing professional with more than 20 years of experience creating successful marketing campaigns for her own companies and other clients. She is one of the founders of InTouch Media Group (www.intouchmediagroup.com).
Article Source: http://www.simplysearch4it.com/article/3295.html
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