29. The Law of Specialization
To succeed in a competitive marketplace, a product or service must be specialized to perform a specific function and be excellent at satisfying a clearly defined need of the customer.
It must be clear what the product is uniquely suited to do and for whom the product is designed. Products that try to be all things to all customers end up being nothing to no one. If customers are unsure of the specific use or application of the product, they will pass it by in favor of something else.
The first corollary of the Law of Specialization is Companies fail when they no longer specialize and do not serve a sufficient number of customers in a cost-effective way.
Specialization is the starting point of successful marketing. ...
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