I have encouraging news for you: many of your competitors are afraid of strategy. You might call it strategophobia. Strategy has two terrifying characteristics. First, strategy is a choice. “We are going to go for target customers X, and not the rest,” or “The major benefit we will offer consumers is Z and not all sorts of other things.”
It seems that when you choose, you have to give something up. There are executives who are not willing to give up on a target group of customers, as if they “have them” or stand a realistic chance of getting them all. This is one of the sweetest but most dangerous illusions managers have. They aren’t willing to define a particular benefit as the major benefit they have to offer their consumers, out of fear that the consumer might be tempted to try a different benefit elsewhere. Strategizing means choosing to focus and concentrate your energies in order to provide yourself with an advantage. You go about this by establishing your brand as the source of a certain benefit. If you don’t, you probably won’t be identified with any benefit and consumers will have no good reason to think of...
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