Survival through Intangibles
The market is being opened up. There is rush to produce, sell and get the business back on track……as fast as possible. Most of the economic stimuli are meant to drive production, very few drive demands. We are heading towards a situation of the Demand lagging far behind the Supply. This will give birth to Hyper Competition. And, the companies will need to build Hyper Differentiation for survival.
Meeting Specification and Acceptable Pricing are the bare minimum requirements – The Gate – to enter the market. They form Table stakes of Elements of Value. The companies will no longer be able to differentiate their products and services on basis of these. Only the Intangibles will produce the Hyper Differentiation. The companies will need to seriously build on Consumer Affinity, Employees Commitment and Culture of Learning & Innovation. Only these intangibles will sail the companies through this crisis.
Author: Dr Ajay Shrivastav, Mentor and Chief Success Partner, WINNIVA