(All pictures Imagen 4)
I’ve said this before. If a company says it has no competition, run far away.
I’m revisiting the “we have no competition” topic, because I have another point to make. If you claim your firm’s product has no competition because of its robust unmatched feature set, why are you still broke?
Take this example: the Uneek Combination Oven-Microwave.
A young woman left her family home and moved into her own apartment in the city.
Her apartment was a very tiny studio apartment. Because of the lack of space, the woman equipped the apartment’s small kitchen area with a space-saving appliance that was a combination oven and microwave.
This was truly a product that had no competition, because its feature set was unequaled by most cooking appliances on the market. Everything else was either an oven or a microwave, not both.
So by logic this product should have commanded a 99% market share because of its extensive feature set, right?
Yet it didn’t.
Because this product actually had competitors.
- Stand-alone ovens.
- Stand-alone microwaves.
- Takeout food which ensured that you needed neither an oven nor a microwave.
- And cold food.
The biggest competitor against ANY product is simply buying nothing at all.
After all, buying nothing at all has by far the lowest price.
At least in the short term.
Bredemarket 