In the quest for uniqueness
I was recently in the market for a digital camera. While this is my 3rd camera in the last 5 years (don’t ask!), what surprised me the most in this latest shopping cycle is the sharp increase in bewildering choices available to buyers. From the arcane language of focal this and aperture that and zooms and shutter speeds, I was soon swimming in unknown seas. What bothered me the most was how much more difficult the choice set had become and how difficult it was to differentiate one choice from another.
Differentiation is a key driver and a leading indicator of brand strength. Virtually every model and every management tome evangelizes the cause for meaningful distinction. But in today’s world, how can one achieve differentiation? Most features are easily copied, everyone is getting more design-conscious and manufacturing strategies are replicable in most industries. Not only that, most manufacturer’s, in their quest for differentiation, have over-engineered their products to only watch low-priced, “good-enough” competitors run away with market share. How can one build meaningful differentiation that can serve the brand over a period of time?
Most manufacturers, like most of our camera makers, focus on the bottom part of the hierarchy of needs.
While it is important for a camera to deliver on the latest attributes (megapixels, zoom options), the land of differentiation is often found at the higher rungs of the hierarchy of needs. It is in functional benefits (picture quality, easy to use) or even better in emotional benefits (sense of achievement, trust, security) that brands can find lasting uniqueness. This does not mean that product attributes are not important. They are absolutely critical. But the right set of attributes, consistently delivered over a period of time help a brand build equity in a benefit area and therefore help it stand for something unique in the marketplace.
