If there is one thing more difficult than becoming an industry leader, it is maintaining industry leadership.
That is why technology company Hewlett Packard refuses to be complacent and has constantly sought innovation to push the brand to various market, including Philippines\\\'. [Find out how a local brand is carving its niche with innovative ideas here]
As an old saying goes, the toughest competition is with one\\\'s self. The fight for the top position is hard but keeping that fervor to remain on top is harder.
“The constant innovations of the company, with newer and more efficient products, have helped it become the industry leader that it has now become,” Pascual said. [Read how Krispy Kreme is innovating its doughnuts here].
HP recognizes that operating as a technology company, its future hinges on its ability to come up with the latest and most useful innovations.
“As the leader in the industry, HP has to keep on innovating for the users to continue patronizing our brand. With the innovations that we present, we are able to maintain the value that we give them, which in turn fosters their loyalty for the brand,” Armando Pascual, HP Philippines country general manager, said.
Besides innovation, there are four other characteristics that a brand or business needs to be an industry leader. Pascual shared with Entrepreneur.com.ph what these four other qualities are:
Pascual suggests that if one is really serious in becoming an industry leader, investments must be made for the research and development of new products. [Read how a brand plans to bank on technology to make a comeback in the local market here]
2. Company Strength
“It is important that you also have a strong company to support your bid in becoming the industry leader,” Pascual said. [Read how a merger can actually strengthen a company here]
3. Product Portfolio
Providing your consumers options is one trademark of an industry leader. Besides giving them options, your products will be able to provide solutions for a bigger portion of the market. [Read how an 80-year- old product diversified and maintained industry leadership here]
“The people behind HP, the brains behind the marketing, product development, and all other services that make up the brand, is one big factor that will make you or your brand an industry leader,” Pascual said. [Find out why staff support is important to the growth of brands here]
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