Insights:Packaging Parity Or Brand Image?
Sometimes a company finds itself selling a service that is exactly the same as their competitor’s product or service. Whether this happens because of regulations, legal restrictions or same-sourcing, it makes it tough for your service to stand out.
In this situation, there’s basically two ways to capture more business than your competitors. The first is to be the cheapest, but that eventually leads to nobody making any money. The smarter way is to find a compelling reason for consumers to choose you.
A strong brand image that creates loyalty and trust is, of course, your first line of defense.
It will make a significant difference and provide reasons besides price to choose your product or service.
An additional approach is to package your parity service in a new way: creating a theme that presents the service in a new and fresh way that makes it feel unique or more consumer-focused.
By developing a mini-brand image for a single service, which works in harmony with your over-all brand image, you make your parity offering more memorable and provide a higher perceived value.
The biggest risk for business growth is trying to sell parity services with parity positioning.