Defining Core Competencies —Sherburne
These are two great examples of firms that have focused on specific niches and become experts that deliver a truly differentiated service. Fetter is addressing two well-defined vertical markets with a limited universe of potential customers that find benefit beyond the simple printing of labels and are willing to pay for that value.
Modern Postcard is focused on a horizontal market that crosses almost all industries and business sizes, and has optimized its sales and manufacturing processes to cost-competitively deliver what you might assume is a commodity product, but with very good margins.
As we approach the final quarter of the year, isn’t it time for you to step back and analyze your business like these two firms did?
Who are your best customers and why? Which customers are most profitable, or do you even know? What motivates a customer to stay with you on a long-term basis, and how can you replicate that loyalty with other clients?
Invest the time now and enter 2008 with a plan for increased profitability through market differentiation. PI
About the Author
Cary Sherburne is a well-known journalist, author and strategic marketing consultant working primarily with the printing and publishing industry. She is a frequent speaker at industry events, a regular contributor to industry publications and has written three books, which are available for purchase through the Bookstore section on Printing Impressions’ Website (www.piworld.com). Sherburne can be reached at Cary@SherburneAssociates.com.