From a purely objective point of view it doesn’t really matter how good your products are. Sooner or later some one else will sell a better product at the same price. Lowering you price won’t help for very long because competitors will soon sell it at an even lower price.
All competitive advantages that builds on objective, measurable properties of a product or service can be copied by your competitors.
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And once they have done that the can improve the product or sell it for less than you do. Or do both in worst case. If you meet the challenge at this level you’ll be sucked in to a maelstrom of ever diminishing margins.
There are however properties of a product that competitors can’t copy quite as easily. Properties that mostly are quite abstract. But as long as they are relevant to the customers they are prepared to pay for them. It’s the kind of properties that are created through communication. It’s the magic of a brand.
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