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Brilliant customer experience
Numerous studies have shown that consumers are willing to pay large sums for a great customer experience. This includes fast delivery, quality assurance, product personalization, special service privileges, and the like.
Most retailers successfully practice cash app database delivery on the same day the order was placed. The customer is willing to pay more for this privilege. The same can be said about products with an extended warranty. If you offer a buyer a smartphone with a 3-4 year warranty, he will undoubtedly agree to purchase it faster.
Some companies take radical measures. For example, the fitness club Snap Fitness proclaims the following: "Feel fantastic, or we'll give you your money back." If a client does not confirm this condition after a month of active visits to their company, they will get their money back. Such statements dispel any doubts about the benefits of cooperation with the club.
Unique design
One of the main factors of the competitive differentiation strategy is the original design of the product. This includes not only the appearance of the item, but also its functionality.
The American insurance company Geico chose a cute reptile as a mascot, although it is quite difficult to find a connection between a gecko and insurance. The company did not focus on this, deciding to take an easier path of differentiation. The lizard looks cartoonish, funny, uplifting. Clients read this message of ease on a subconscious level and are happy to cooperate with this insurance company. The company's profit is calculated in millions of dollars.
Enterprise Values
The importance of the product plays an important role.
For example, Bombas, a company that manufactures and sells hosiery, underwear and T-shirts, has chosen a special mission for itself – helping those in need. When buying a pair of socks from Bombas, the customer knows that the same one will be sent to a homeless person absolutely free of charge. In 2022, more than 50,000,000 units of goods have already been donated.
Many volunteers who share the company's values shop at Bombas.
Special brand image
The choice of a differentiated competitive strategy by an organization implies that uniqueness will be embedded already at the level of the meaning of the product.
For example, world-famous brands – Chanel, Gucci or Tiffany & Co. The cost of these products is very high, but this does not have a negative impact on sales. The products have a special charm, aesthetic value. Buying products from these and other luxury brands, fashionistas from all over the world begin to feel an emotional connection with the company. They become a part of it forever, owning some exclusive thing.
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