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Let's assume your competition releases a product, one similar to one on which you are working......

Let's assume your competition releases a product, one similar to one on which you are working... but your product is a few months away from being released.

In the meantime, your competition gains "first in" advantage. What can you do to slow down the diffusion that will surely occur with the new product that your competition has just released and "buy time" so that your product, when introduced in a few months, will have a chance?

business   Operations-Management   
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Answer #1

The best thing that I can do here is to further customize the product as per the demographics of the people and the probable customers so that it can be my selling proposition and the customers find something deeper and suiting their needs. Also, I will reduce the profit margin so that the customers might sway in this direction as they would be getting a similar product at lesser prices. Lastly, I will try and tap the untapped market because that would be the most profitable as far as the ate release is concerned. Maintaining a balance between the above 3 activities would surely help in slowing down the diffusion.

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