The Secrets of Success in Marketing

88 PART 2 It takes more than a product to succeed

Product developments like this can be easily imitated, so they

may provide only short-term competitive advantage. However,

they focus on customer requirements and demonstrate that

the brand’s emphasis is on leading rather than following

.

Introduce higher- or lower-priced versions

Price may be an inhibiting factor for prospective customers.

Introducing a lower-priced version may broaden the market

for the brand. However, in producing the

budget version, you should ensure that

you do not dilute any of the brand values

that differentiate the product. If quality,

for example,