Monday, January 20, 2014

How To Compete Against A Giant Brand AND Win

This article focuses on a company called Strutz who makes orthopedic supports. Recently, they signed a deal with Walmart to have their products on their shelves. One down fall, Strutz has to compete with the infamous Dr. Scholl's, which has made quite a name for themselves. Dr Scholl's has been around since 1906 and spends millions of dollars annually on both marketing and advertising. How should Strutz go about competing with Dr. Scholl's? Strutz uses different technology, so their goal is to educate their consumers about how they're different compared to their competitors. Most inserts slip into a shoe and comes off when the shoe does. Strutz uses arch support wraps that wrap around the food and stay put when the wearer changes their shoes or decides to go barefoot. They rely mostly on word-of-mouth advertising and social media also plays a large role. Strutz is now a corporate sponsor, which "helps build a sense of community, allowing you to get your name out there in a very positive way." Their company only has four full-time employees, which according to them, can be quite an advantage. When trying to contact Dr. Scholl's you must call an 800 number and you won't even be able to reach the CEO. So, this is another advantage that Strutz has over their competitor. Although it seems as though Strutz doesn't have much room on the marketplace when it comes to orthopedic inserts, they've been trying to make quite a name for themselves to stand out from their competitors. To continue reading about how you can compete against a giant brand and win, click here.