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Old September 14, 2002, 10:52 PM
Michael S. Winicki
 
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Default Demand & Supply

I was leafing through "Fast Times" magazine the other day and came across and ad for a book "The New Law of Demand and Supply" by Rick Kash. While I haven't gone out and purchased it I thought the ad copy describing the book was good...very good. Not necessarily from a selling standpoint (even though if I buy the book obviously it worked!), but from the standpoint of describing very well where our (U.S. primarily but the rest of the world is catching up fast) economy is at. Here is the copy for the book:

"For two centuries the U.S. and world economies have been supply-driven. But in the 21st century, virtually every industry is in oversupply and companies ahve lost their ability to increase prices. We are now a demand-driven economy. This book is a blueprint that shows how many companies outperform competition by understanding demand and differentiating products before creating supply."

Nail on the head.

I see this in off-line where we are way over-retailed to mail order where catalog after catalog (Lands End, Eddie Bauer, Cold Harbor Creek, J.C. Penny and so on) all carry similar type products and sell in catalogs that all look and read alike.

I don't get a chance to post on too many forums anymore but I do lurk. I read post after post from frustrated Internet sellers that are looking for answers of why they aren't selling anything.

The fact is we have virtually too much access to everything. We as consumers have too many choices...from lady's apparel to self-help books to ebooks on making money on the Internet. We just have too damn many choices, which is good from the consumer's standpoing but really stinks if you are trying to sell anything.

But is 'differentiation' the key? I'm afraid it is. And even though we are over-retailed and have far too many choices of where to go out to eat startups in those areas still have a chance of success if they zig where others zag. I spent time in this area's largest mall not too long ago and really spent time trying to differentiate the number of stores that were trying to attract the 15 to 25 year-old female. It was pathetic. Store after store...similar merchandise, similar price-points. I thought because of my age and my gender I may not have a correct view of this situation so I asked several females I know that fit the above demographic. The all agreed...too much of the same thing and not enough different. There is hope for entreprenuers that want to break away from the pack...that want to establish their own identity.

Internet folks have a more difficult path. The problem being it is much more difficult to differentiate over the net. With a face to face type business you can differentiate with customer service, appearance and cleanliness (both store and personal).

I think it is true "differentiate or die". Don Alm posts good potetial ideas on this board. Why? because his ideas usually tie into concepts that aren't being beat to death by the competition. I like Adam Katz's dogtraining-related products also, I think that is a terrific niche.

What is your niche? How often have we talked about "USP" (Unique Selling Proposition)?, "UCA" (Unique Competive Advantage")? or something similar and how often have we disregarded that rule either out of ignorance or because 'we think we know better'. Let me clue you in...you (we) don't know better. I've been there I've screwed myself by disregarding that rule. Don't you do it.

I just hope I don't hear from another entreprenuer that wants to sell $9 tee-shirts to 15-25 year-olds or the person that still believes they can make a living over the net selling "How to Make Money on the Internet" type stuff. There are easier ways...

Have a terrific rest of the weekend,

Mike Winicki
 


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