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Making your own competition

by funkynassau
13 replies
My son is a biz marketing grad and he was suggesting to me that we set up another website with a new name, selling much the same product as we do already, but an upscale version. Nicer packaging, different labeling etc., but dressed up to attract a different type of customer. The pricing would be higher too as this would be marketed towards people with more money and more expensive cars.

We sell do it yourself paint touchup kits, with the paint custom mixed so that it will match the paint on the vehicle, something a dabbing stick cant do. Most of our clients have the higher end vehicles like Infinitis, BMWs, Cadillacs etc, not the guy with the 1992 Corolla.

I'm looking for feedback on this idea.
Thanks,
Funkynassau
#competition #making
  • Profile picture of the author JCorp
    Great idea. Create, expand, and discover the endless opportunities that can be birth from your one business...wishing you continued success!
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    • Profile picture of the author Tom Ryan
      I think that is an excellent idea one that a lot of people don't think about doing. Selling to different segments of the same market is an easy way to expand on what you are already doing. Go for it.
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by funkynassau View Post

    My son is a biz marketing grad and he was suggesting to me that we set up another website with a new name, selling much the same product as we do already, but an upscale version. Nicer packaging, different labeling etc., but dressed up to attract a different type of customer. The pricing would be higher too
    It seems a very good idea, to me.

    (You might perhaps want to make sure that the product offered is only "much the same", though, rather than "exactly the same", to avoid any potential for ill-will/complaints from people paying the higher price and subsequently discovering the lower price.)
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    • Profile picture of the author Azarna
      Originally Posted by Alexa Smith View Post

      It seems a very good idea, to me.

      (You might perhaps want to make sure that the product offered is only "much the same", though, rather than "exactly the same", to avoid any potential for ill-will/complaints from people paying the higher price and subsequently discovering the lower price.)
      Agreed, if someone who bought the original decides to get the new 'posh' version they will expect to be getting something a bit more for the additional money.
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      • Profile picture of the author funkynassau
        Wow such positive comments, I'm delighted!

        Some of the products in the kits would be the same as they are tried and true items and that's how the procedure is done. Like the paint and it's accompanying solution, there is no substitute or upgrade to that. The rest of the items in the kits can be packaged nicer than the original one, not a problem there. The box it comes in can be nicer too. Just the "key ingredients" would have to be the same.

        I'd be annoyed too if I forked out big bucks on something and found it cheaper on another website, so I understand the importance of making it look like two separate businesses.

        Open to all ideas and suggestions, thanks!
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        ChipFixx custom mixed auto touchup paint kits.
        http://www.chipfixx.ca

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        • Profile picture of the author shane_k
          Originally Posted by funkynassau View Post


          I'd be annoyed too if I forked out big bucks on something and found it cheaper on another website, so I understand the importance of making it look like two separate businesses.

          Open to all ideas and suggestions, thanks!
          The problem with this is you are assuming that your customers would be focused on price.

          If they are going for these higher end vehicles, there is a reason and it's not the price. Why? because if it were the price then they know that they could get a lower priced car anywhere else.

          they are going after these higher end vehicles for status, pride/ego, maybe a symbol of their own success, etc.

          So in your new packaging don't worry what they will say about price, just get them off of price and focused on value.

          I think on of the best sales books I read recently was a book called "Crush Price Objections"

          it's all about how to get people off of focusing on price and focusing on the value they will recieve.


          A quote that I love and am personally just starting to understand from real world experience is this...

          "It takes just as much effort to close a $100,000 deal, as it does a $5,000 deal."

          I think you should trust your son (if not then why send him there for that kind of education) and go for it. You will be putting in the same amount of effort, but for a greater return.

          Thanks

          Shane_K
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          • Profile picture of the author M4rketMaker
            I've had some off time from the net marketing business, but there's no question if you have the right idea. The biggest assurance you can make of your strategy is to derive it from the porn industry. It's where I started originally, albeit you have a totally different business model, but the idea is much the same. You can never make as much money by owning just one site. Although you're selling the same exact thing... Twist it a bit, package a little different etc... and you'll have people paying twice as much for the same thing. Plus you already have a client base you can start with!
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            • Profile picture of the author funkynassau
              Thank you everyone for the great responses. You've got me thinking more and more that this is a good idea. Son was taught this concept in college.

              He talks to me about value too, that value is more important than price.

              I had been thinking we needed another small biz to get more money coming in (hopefully!) but I didnt think of taking what we already have and tweaking it. I think this is a brilliant idea.

              Winter is our slow time, so it'd be a good time to get working on this and have it ready to roll before spring gets here.

              Funkynassau
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              ChipFixx custom mixed auto touchup paint kits.
              http://www.chipfixx.ca

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  • Profile picture of the author RHert
    I'd do it.
    Basically your just expanding your market base. People buy stuff based on packaging in stores and copy online. Make sure you have great copywriting and it should work well.
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    Copywriting at it's Best! - Tips and tricks to connect with your reader.
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  • Profile picture of the author Will Edwards
    Originally Posted by ncmedia View Post

    Nice.

    I might need to call on you! In Tdot and my slade needs some love.

    Short answer: YES.

    See my sig? It does really well - am I scared that I will soon have competition and or that there are sub-niches I can go after? YES.

    Did I launch a few of my own competitors to both protect my stance in the market and to diversify offerings/image to attract other relative demo's? TOTALLY! Went one step further and launched a ton of similar sites that over lap even more - now up to 6 .

    If it's a big enough market I would do a few. Seeing as you've already had success with the first biz, you can consider it your market test, and now you'll 'really' know how to come correct from the ground up.
    Just wanted to say, that's a great looking product you have there with excellent affiliate materials. Sadly, it's not for me because I feel too alienated from your target market, but I wish all ClickBank products were as professional as yours.

    Will
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  • Profile picture of the author DianaHeuser
    Initially when I saw the title of this thread, I thought to myself that would be a really dumb idea but I have reconsidered. It actually makes sense in a wierd kind of way.

    Thanks for the interesting idea. Got me thinking.

    Di
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    • Profile picture of the author funkynassau
      Diana, my son gave me the idea so I will give him your thanks! I had never considered such a thing, it never occurred to me! Seems kinda obvious once I thought about it, tho.

      Hubby and I have been talking a lot about it, coming up with ideas of how to make it happen.

      Funkynassau
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      ChipFixx custom mixed auto touchup paint kits.
      http://www.chipfixx.ca

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      • Profile picture of the author funkynassau
        ncmedia - the beer guys are pretty smart, arent they? Crush the competition!
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        ChipFixx custom mixed auto touchup paint kits.
        http://www.chipfixx.ca

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