Some markets are interesting in that those who were once competitors are now friends .
Consider the cereal market. The entire industry is struggling.
While before it used to be one cereal against another cereal, now it’s every cereal against the latest assortment of competitors: shake supplements, granola bars, and other on-the-go snacks.
It’s worth addressing in any brand strategy, not only who are the current competitors, but who may be future competitors? What might turn your most-feared competitors into your friends? What would have to happen to the market for it to turn into a group fight?
To make a successful business, you can’t just focus on your current competitors, you must have an understanding of the whole industry and where it could g0 and why.
Of course, there are no right answers, but answering right isn’t the point.
Insight, care and the drive to see something last is.
Stay Positive & Will Your Business Last?
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