Differentiation is a tricky concept. Dr Gerhard van Wyk, a marketing expert, gives practical tips on how to find out what sets you apart from your competitors. Van Wyk says differentiation is one of the elements that gives you a competitive advantage. “A competitive advantage in a broad structure basically sets that you’ve got something that you can offer to your customers that is different from your competitors, that is sustainable over a long period of time but most importantly is of value to your customer. That value means that I don’t necessarily have to differentiate based on giving you a lower price... What I’m doing is differentiating in an attribute that you see value in and that you are prepared to pay a premium for.” Van Wyk says if its too easy to compete and if your business model can be easily copied by competitors, then you’re not differentiating your business correctly. Watch as he unpacks differentiation in more detail and Allon Raiz looks at the dilemma of organic g...
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