Capital Events Marketing Announce Factors in Competitive Dominance
In a world in which global competition in even the smallest of niches has become increasingly common, many smaller brands in particular have had to find new ways in which to broaden their horizons while securing their existing markets. Many different factors play roles in how businesses can or cannot succeed, but the internet in particular has made it possible for anyone to compete across countries and continents for business. Capital Events Marketing explained to its clients recently how certain factors play a role in giving select brands an inherent advantage in otherwise highly competitive niches.
Technological superiority is a key factor in how brands can dominate an industry’s conversation, according to Sophinna Asif, Director of Capital Events Marketing. “From being able to respond quickly and in a variety of ways to operating with lower overheads, technology has fuelled an inherent arms race in the world of business”, she said. “The competitive advantage that such technologies can offer – many of which are very low-cost – really reflect the intuition and innovation that brands possess or lack in such a dynamic and competitive world”. While technological supremacy certainly affects overall prosperity, it is not the only dynamic at play.
Cultural relevance is another critical component that can affect how brands perform in various markets. Capital Events Marketing noted that the ability to connect with an audience, whether it be at a national, regional or even local level, directly affects how consumers respond to marketing attempts both online and in the physical world. Some common components that play a role in this process include the location of customer service centres, language and translation proficiency, and the ability to use marketing to tap into current events. An overly-generic marketing message that doesn’t resonate with the time and place of the market can directly alienate consumers in some cases.
In order to gain and maintain competitive dominance in a given field, a consistent effort must be applied. Brands and businesses that believe such an accomplishment is a temporary or one-time effort will be disappointed to discover their market advantage slipping after it is too late. The job of top-notch marketing firms such as Capital Events Marketing is to ensure that brands can learn which characteristics attribute to a competitive dominance in their markets and then work with them to improve or reinforce marketing efforts in these areas for increased future performance.