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Is an edge necessary in marketing?
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INQ unveils new web-enabled phone under $50
Often times, marketers forget the importance of a having an edge over the competition. Marketers need to understand what edge or unique benefit their product or service has over the competition and market that benefit strongly.
In this case, Hong Kong-based Hutchison Whampoa announced today that they will unveil a new Hutchison subsidiary, INQ, which will make cell phones in competition with Nokia, Motorola, LG, and Apple, among others. Hutchison wants to slash the price of phones that let people surf the Net and tap social networking sites, especially Facebook and Skype. The goal is to get more people to use the web-enabled phones—which allows companies such as Hutchison to profit from selling internet services that go along with them.
In a market where web-enabled phones are available at a premium, this company has decided to make more money on the service side rather than the product sale side for an ongoing monthly profit. Recognizing this opportunity, Hutchison is able to not only create a business strategy that should prove to be highly profitable, but also gives consumers that don’t want to spring for a $400 or higher smartphone a viable option. Creating a market and an edge is a huge advantage to creating a successful business.
Put it into action. What can you do to create an edge over your competition? If you know your edge, are you taking advantage of it in your marketing and promotional materials?
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