Posted in Marketing & Strategy Articles, Total Reads: 3788
, Published on 02 December 2010
Competition is existent everwhere. Competition exists in schools where little students have to get the best grades, it exists in institutions where the best projects get recognised and applauded, it exists during competitive exams in getting admissions in the best colleges and also, it is present when people have to fight it out to make their careers. But even though everyone give their best effort and perform to the best of their abilities, the rules of the game are decided by the winners.
Companies are always involved in a tussle with other competitive organisations in the same sector. The companies which have the strength to with-stand the assault of its competitors, survive in the market. However, a majority of the companies and brands succumb to the competition. And this is where the companies, who hold the top market position, set the benchmark and control the market.
Consider an example of a brand overhauling another existing brand. England domestic T20 cup and Indian Cricket League (ICL) were started as a league competition consisting of all yester-year superstars of cricket. For 2 years, they had a monopoly in terms of advertising, merchandising and revenue, as they had no competition. But the scenario changed abruptly for ICL when the Indian Premier League (IPL) started. IPL was formed on a solid foundation on superstar cricketers, alongwith the support of the strongest brands and extensive media coverage. Not only did IPL completely overhaul ICL's viewership and fan following, but they also devastated its brand and existence by labelling it as sub-standard league. IPL was financially a much superior brand than ICL. Thus ICL, despite having the first mover advantage and monopoly for 2 years in the market, crumbled to the intense pressure of the IPL, and in the end IPL had the winners tag of being the ultimate brand of cricket league.
Another example of a brand totally rewriting the rules of the game can be understood by the example of 2 social networking websites. Orkut which was a community for all family and friends, became a popular social networking destination for all to meet and share. They were the undisputed leaders despite having similar sites like hi5 etc. But they were totally taken aback by the Facebook thunderstorm. Facebook changed the concept of social networking by user friendly applications and games, and within no time became the pulse and lifeline of every person who uses the internet. Not only did facebook lead to massive switching from orkut to facebook, but in an attempt to become like facebook, orkut dug its own grave. The brand orkut was buried, and facebook became the face and undisputed king of the social networking platform. Similarly, Nokia, which now faces tough competition, controlled the Indian market removing Samsung and Motorola, Maruti completely removed FIAT from the market and Nirma destroyed the players in the detergent industry.
Individuals, organisations and revolutions all become a part of history. Some are remembered forever, and some are lost in the pages of history. But the ones who remain in the hearts and minds till eternity are the ones who are outright winner brands, because always, winners write the history.
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