Know thy strengths
Most – if not all – companies have done SWOT analysis in order to know the weaknesses and strengths for each major product. Normally your salesmen will know also the strengths of the products compared to the competition.
Perception of the customers
This is great to know for your employees. However how does your potential customers perceive the strengths and benefits of your products and company compared to the products of the competitors ?
How do the potential customers get information about your products ?
What influences their perception ?
What are the sources these potential customers use ?
How can you influence these sources ?
How was this perception created in the past ?
How did the competitor achieve a higher evaluation ?
Once a perception established it is very difficult to have it changed in both directions:
- A highly perceived brand will maintain its’ status very long: e.g. Miele, Apple
- A brand with a lesser image will have a huge task to change this perception: e.g. Samsung
Marketing makes the difference
It is the task of marketing to create the perception of your products and company amongst potential customers, requiring to create marketing campaigns, send out mailings and have a website that exposes the strengths and benefits of your products. This is an asset and added value that marketing can create by using the adequate and targeted marketing campaigns and initiatives.
Marketing can make the difference for your products compared to your competitors as the products are likely to be very similar in the current highly competitive markets.
Are you aware how your potential customers perceive your company and its’ products?