About Movie

There is only so much money to go around, so to an extent we are all fighting for the same dollars. It does not matter what business you are in, you will have competition either from direct competitors, or from less likely sources. The important thing is to make sure you get your fair share of business.

Competition can take two forms - direct and indirect.

Direct competition comes from businesses that use similar marketing strategies and sell similar products or have similar skills. When I was in the toy business I competed directly with other toy sellers: Department Stores, Discount Warehouses, Specialty Sores and even Supermarkets. At Christmas time it seemed that every man and his dog began selling toys. Store owners knew that Christmas was the time people shopped for children, so they added toys to their range to generate extra store traffic and profit. They became direct competitors over the peak selling season.

The second, less obvious form of competition is indirect competition. How strongly do they compete for the same customers' dollars? Again using my toy store example, I was competing with any other business seeking the leisure and entertainment dollar. That included: Amusement Parks, Arcades, Movie Theatres, Fast Food Operators, Confectionery Sellers, Bookstores... the list goes on. When school was out I was even competing with non-profit entities like: Public Parks and Playgrounds, Libraries and Beaches. In short, anything that families might do in their leisure time was competition.

It is true that some markets are more competitive than others. However, if you bury your head in the sand and pretend you are safe from any threats, you really are putting your business in a vulnerable position. Competition can come from the most unlikely sources and can catch you by surprise. Have clear, focused marketing strategies and you will be better placed to handle whatever gets thrown your way.

I learnt not to limit my definition of competition. By thinking outside the square, I was less likely to be sideswiped by an unexpected competitor coming from an unexpected direction. You can do the same.

Good marketing with focused disciplines is like having an insurance policy. You can play the game to your rules and have to react every time there is a change in the market. Perhaps I am a bit of a control freak, but I would rather be in charge of my own destiny (with my own marketing strategies), than always be at the mercy of someone else (and their marketing strategies).