Expert's Panel

A collection of timely and important topics posed to our panel of experts.

How do you protect your market share when you are market share leader?

 (ep10102)
1. You need to have an understanding from a strategic standpoint. Do you want market share, profitability, gross margin . . . what's most important to your company overall? You can maintain your market share if you want to give your product away. The question that was asked, in and of itself, is kind of dangerous.
2. Davidow said you obsolete your own product with performance, performance, performance. Long-term market leaders are doing "continuous improvement" until they run out of gas and then obsolescence to maintain meeting the customer's requirements. When you fall off of that train someone else comes along and does it for you.
3. You engage your target customers as collaborators to lead them to the perception that for them to move forward they need you. It will be the little things that delight the customer and keep you in the lead position.
4. Continue to add value to your customer's perception of your product and support. When the customer feel safe and secure-you are the market leader-and you continue to bring increasing value, you will maintain the lead position.