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TAKING A PREMIUM
POSITION IN THE
MARKETPLACE
Gerardo A. Dada | @gerardodada www.TheAdaptiveMarketer.com
AUSTIN AMA | FEBRUARY 2012
Premium.
A high value or a value in
excess of that normally or
usually expected
Enter a saturated
market
Broaden product
strategy
Then,
Then, Allstate
Allstate gets
gets it
it
We
We protect
protect you
you from
from mayhem
mayhem -- You
You are
are in
in Good
Good Hands
Hands
4
Commodity - a
class of goods ..
which is supplied
without
qualitative
differentiation
My product is a commodity
70.9 %
of the
World is Covered in
Water.
- Wikipedia
Commodities in technology
SQL is an ANSI and
an ISO defined
standard
MySQL is a powerful
and free SQL
database engine
used by large
enterprises
Yet Oracle and
Microsoft have built
multi-billion dollar
businesses selling
commodity SQL
databases
Customer
Intimacy
Operational
Excellence
Differentiation is
is building
building your
your business
business on
on a
a
Differentiation
strategy to
to target
target a
a specific
specific type
type of
of buyer
buyer
strategy
8
1
1
SEVEN STRATEGIES TO
ESTABLISH PREMIUM
POSITIONING
1
3
2. Appeal to Emotions
Marcus Buckinghams basic human
needs
Fear of death
Need for security
Fear of strangers and outsiders
Need for community
Fear of the future and uncertainty
Need for clarity
Fear of chaos
Need for authority and classification,
order
Fear of insignificance
Need for respect
1
4
BA
BAasked
askedcustomers
customers
They
doubled
They doubledprice
price
$500
million
in
profits
$500 million in profits
1
6
1
7
Good
Better
Best
$550.
$750.
$1,150.
1
8
$9.
$49.
$499.
Hundreds
Hundreds of
of customers
customers pay
pay 80%
80% more
more
for
for the
the peace
peace of
of mind
mind of
of storing
storing their
their data
data at
at
Rackspace
Rackspace
2
0
Premium Free?
Red
Red Hat
Hat has
has built
built aa $
$ 99 Billion
Billion
dollar
dollar business
business selling
selling free
free software.
software.
How?
Red Hat sells peace of mind
Standardization well defined target
Support Providing a throat to choke
Legal Protection open source assurance
2
1
6. Be Different
Trader Joes Strategy
Limited choice of unique
products
Hawaiian shirts
Quirky marketing
Cedar-planked walls
$8 Billion in sales
2
3
7. Empower Employees
Happy & empowered employees delight
customers
Trader Joe pays
build life-long
relationships with
customers
2
4
SUMMARY
2
6
2
7
Thank You
A
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Sources:
http://blogs.forrester.com/sucharita_mulpuru/12-02-02-the_guts_to_grow_what_amazon
com_trader_joes_and_westin_hotels_have_in_common
http://www.pbinsight.com/blog/details/if-trader-joe-managed-your-communications/
http://www.cbsnews.com/8301-505125_162-28245442/10-secrets-to-trader-joes-success/
http://www.clarkhoward.com/news/clark-howard/shopping-retail/trader-joes-offers-new-m
odel-for-success-in-grocer/nFWF/
Torn paper from http://greatvectors.com
Koch quotes from Killing Giants by Stephen Denny, p. 30-33
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