Don’t confuse innovation with novelty.

You may have successfully designed the latest shiny object for people to get excited about…at least until a new shiny object came out.

And that’s the reason product features are more a novelty than an innovation. They are added in an attempt to differentiate, but not reinvent.

It’s not a bad thing, but it can’t be counted on to add any long-term value.

Novelty can drive sales, but the impact does not last.

Start With Why by Simon Sinek

In nearly every circumstance, the companies that are forced to treat their products as commodities brought it upon themselves.

I cannot debate that dropping the price is not a perfectly legitimate way of driving business;

the challenge is staying profitable.

Start With Why by Simon Sinek

Playing the price game can come at tremendous cost and can create a significant dilemma for the company.

The short-term gain is fantastic, but the more you do it, the harder it becomes to kick the habit.

Once buyers get used to paying a lower-than-average price for a product or service, it is very hard to get them to pay more.

Start With Why by Simon Sinek

When companies or organizations do not have a clear sense of why their customers are their customers, they tend to rely on a disproportionate number of manipulations to get what they need. And for good reason.

Manipulations work.

Start With Why by Simon Sinek

Manipulation isn’t necessarily pejorative; it’s a very common and fairly benign tactic.

Typical manipulations to influence behavior include:

– Dropping the price
– Running a promotion
– Using fear Peer pressure
– Aspirational messages
– Promising innovation

Start With Why by Simon Sinek

There’s barely a product or service on the market today that customers can’t buy from somewhere else for about the same price, about the same quality, about the same level of service and about the same features.

If you truly have a first-mover’s advantage, it’s probably lost in a matter of months.

If you offer something truly novel, someone else will sone come up with something similar and maybe even better.

Start With Why by Simon Sinek

Not only bad decisions are made on false assumptions.

Sometimes when things go right, we think we know why, but do we really?

That the result went the way you wanted does not mean you can repeat it over and over.

Start With Why by Simon Sinek

Manipulation works.

Every manipulative tactic can indeed help influence behavior and help a company become quite successful.

But there are trade-offs. Not a single one of them breeds loyalty.

Over the course of time, they cost more and more. The gains are only short-term.

If you have exceptionally deep pockets and are looking to achieve only with no consideration for the long run, then these strategies and tactics are perfect.

Start With Why by Simon Sinek

Loyalty is when people are willing to turn down a better product or a better price to continue doing business with you.

Loyal customers often don’t even bother to research the competition or entertain other options.

Loyalty is not easily won.

Start With Why by Simon Sinek