Marketing lessons from Olympics
We all have read ” Positioning: the battle for your mind” by Jack Trout and even if you haven’t read it you must have seen the articles about positioning. The important role of concentration in business and how unfamiliar is this for the entrepreneurs. (Important Marketing lessons!) When we say we want all of the markets and we want to satisfy all of the customers in any range is a big trap that causes failure. After 10 to 20 years we can create a powerful name in consumer’s mind, a remaining name that keeps the effects of your branding for years.
You can’t get gold medals in 2 different fields. A professional athlete works hard for years just to get to his gold medal, and that’s the power of concentration.
You can’t be both swimmer and basketball player. The funny side is that some managers want to get to this point by time management, but it is just a ridiculous dream. It likes you want to practice swimming in the morning and then go to the sports club to play basketball. In Olympics, you can be the champion in one field. In business, it is the same story too.
Otherwise, a multi fielded company which is weak or so-so in every one of them has no position in customer’s mind. You can’t teach speed reading, marketing, and foreign language at the same time and expect to get the best results.
We have to remember we can build just one strong brand, developing it to other fields just makes your name weaker.
Of course, when you gain some money out of your business it is tempting to explore new ventures and markets, but expanding firm and business line take more time and precise investigation carefully.
You can be a champion in only one field in Olympics!