How do you grow your business?

Broad Targeting: Instead of focusing solely on a niche market or attempting to personalize marketing efforts to extreme degrees, Romaniuk and Sharp suggest a broader approach. Reaching a wide audience ensures that your brand remains visible to as many potential buyers as possible, including light users who make up a significant portion of sales in most categories.

Encourage Brand Switching: Given that most markets have more similarities than differences, encouraging brand switching through consistent and broad marketing efforts can be more effective than trying to create a highly differentiated product offering. In summary, if your brand lacks differentiation and competitive advantage, focusing on Category Entry Points and achieving distinctiveness as recommended by Jenni Romaniuk and Byron Sharp can be an effective strategy. Enhancing mental availability through CEPs and creating a distinctive brand identity through consistent use of branding elements can help your brand compete more effectively, even in the absence of clear product differentiation.

Can this increase your profit?

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