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Darwin’s famous quote summarizes it all,…”it is not the strongest or the smartest that survives, but the one who adopts”. Key to adaptation is ability to quickly scan the happenings in the markets and imbibe them in the products and services. Most successful adaptations are imitations. Business management literature has placed huge premium on innovation and does not give due credit to innovation. Most successful companies in IT or Pharmaceutical or Biotechnology industry mimic tactics from nature and other firms. While pure imitation is a flawed and poor strategy, strategic imitation wherein the company allows innovator to define the market segment, discover the “dominant design”, but quickly comes from back to take the market is a classic strategy. Browne & Mohan consultants in this article presents the approaches by which companies can be strategic imitators, in what market conditions this may work and how to marshal resources and capabilities to gain results from this strategy.
It is not just 40ish Bollywood actors who have cooed “aati kya khadala” running around trees and cure heroine who morph themselves to menacing looking 6-abs Rambo’s, many companies also use this strategy. Plain joe laid back brands in their domestic markets take pole vault perfect 10 positions, high on premium and image in other markets. This strategy not only helps them to gain from better margins from premium positioning, but also aid in overhauling their domestic image too. In this blog, our consultant showcase how companies pursue this strategy and what conditions are required for this strategy to work.
Bottled beverage is a highly concentrated market. Large brands like Coke and Pepsi dominate the markets. The fresh juice segment on the other hand is a highly fragmented market with many local Joes serving the customers. Successful local companies embrace “tradition” “roots” and “legacy” products and services to differentiate themselves and compete in their niche spaces. In this blog, we present how a bottled beverage company uses “tradition”, “frugal distribution” and “Word of mouth” marketing to make a successful market entry.
Success of a start-up not only depends on its unique product/solutions, but also the characteristics of its core team. In the parlance of football to be successful a start-up needs a coach who would be sitting on sides pushing for discipline today so that none regrets tomorrow, forwards who can take the offerings to market goal posts, defenders who can hold fort against incumbents and competition, and finally the bench that can jump in when some is rested or injured. However, many not so successful start-ups make avoidable mistakes in their hiring plans of core team. In this blog, our consultants consolidate the learning from such failures.
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