The discussion with Peter Gerlach who is the director of the Gerlach Group, Business Strategist and High Performance Sales Consultant kick started with the fact that, you don’t need to be everywhere but you need to be somewhere in the industry that you operate. That is you don’t need to provide a service to everybody but you need to provide a service for a particular target market.
He gave a typical example of two bottled water companies. The question is one was charging $1.50 per bottle and the other was charging $33.00 per bottle. The distinction between these extreme pricing between these two bottled companies was as a result of how each of them have positioned themselves in the market. The fact is presumably the the volume, taste and quality of water is the same, but one has positioned itself to charge more and the other have target a particular segment of the market and thereby charging less. That is the one charging more is targeting the elite in society and they have branded themselves to attract that market. However the one charging less is targeting the middle and lower class in society.
The question is how have you positioned yourself in the market that you operate. Your positioning is very critical to your success in life.
Find your niche market and position yourself to be unique among your competitors in the industry you operate.
Remember how you position yourself will determine your market share and it will be a premise for creating a competitive advantage.
He concluded by saying that, in today’s world, Positioning yourself well in your industry is the first step to attracting your target market.
PETER GERLACH (GUEST ON “THE PLATFORM).