In the dynamic world of consumer preferences it’s the companies that leverage their core strengths that come out on top.
Take McCormick & Company, for instance.
They’ve innovatively offered an entry-level price point to trade up from private labels.
This strategy is a brilliant example of leveraging core strengths
– in this case, their established brand reputation and quality products –
used to attract customers who might otherwise opt for cheaper alternatives.
How can we apply this strategy to our own businesses?
Let’s discuss.
As a key action point, consider conducting a thorough analysis of your core strengths.
Are they…
– Innovation
– Product quality
– Customer service
or something else?
Once you’ve identified them, brainstorm how these can be leveraged to create unique value propositions for your customers. It’s all about playing to your strengths
