Having to deal with competition is a constant challenge for any business that doesn\\\'t have a monopoly of the market.
With so many players in a particular industry offering more and more products and services, a company has to contend with ever diminishing margins.
A player may obtain a temporary advantage by coming up with an innovative product or service, but only to be again fiercely besieged by competition before long. As a result, even if companies stage ever more elaborate marketing promotions, they are bound to get engaged in price wars that would ultimately diminish their profits.
A marketing strategy introduced in the Philippines by Josiah Go , a marketing guru and strategist, precisely to address this bleak scenario. Called the Market Driving Strategy (MDS), it is designed to avoid the problems posed by cutthroat competition by allowing companies to instead tap previously underserved markets where there is little or no competition.
Go, chairman and chief marketing strategist of Mansmith and Fielders Inc., a company that offers marketing and sales training programs, says that a crucial factor in utilizing MDS is the concept of Logic of Industry (LOI).
The LOI is basically what can be considered the keys to success in an industry, and most companies compete within the confines and cycles of the LOI. They do so by trying to be better than their competition or by offering their product or service at a lower price.
But according to Go, competing in this context could be a losing proposition because the LOI is usually dictated by the market leader. By competing based on the LOI, he says, the company is actually playing their main competitor\\\'s game.