How do a Product Manufacturing company in the verge of stagnant market growth differentiate itself?
Creating new markets by new product or service, enhancing margins by selling improved properties and attributes at a higher price, improving productivity at the customer's process, timely delivery of the product or service.
How to quantify the benefits of such efforts?
The sales of that products in focus needs to be tracked and the associated revenue or margins could be derived.
Its more challenging when a product becomes a commodity even if the market is growing. In such case its important to improvise on the existing product relvant to customer unmet needs quite regularly. Or differentiate yourself by providing addon services along with the product. These services should be aimed at
Take example of cement which is commodity with always growing market.
There is no substitutue for cement. However competition is fierce.
Demand keeps on increasing as housing is a basic need of an individual.
However product which are not directly linked to the basic needs require a marketing push in the market till the product is grows and well accepted.
The Raw material suppliers should focus on getting their RM specified in application which are bsic needs of life to grow his market at a sustainable and faster rate.
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