What is your thought on competition?

64 replies
Competition is something that I always see as a good thing. Many people see competition as a bad thing when choosing a niche or creating a product etc.

But where there is competition there is profitability. And I would rather sell to people who are used to being sold to and used to being marketed to than in a niche that isn't.

Yes, there is a lot of competition in those markets but it can be easy to stand out from the pack. Most people try to take the easy way out so you can easily stand above the competition by providing value to the people you are selling to.

Most people wont, most will go for the quick buck. This gives you the opportunity to quickly stand out and start building an audience.

What is your opinion on competition? Do you go after niches with lots of competition?
#competition #thought
  • Profile picture of the author federal06
    Like Grant Cardone said: Dominate don't compete

    I can go to any niche and don't mind about the competition, my focus is to dominate that market.
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    • Profile picture of the author myob
      Competition was actually the primary factor whenever I considered entering a new niche. Call me lazy, but intense competition generally indicates the niche is very lucrative, and all the heavy lifting in marketing research has already been done. With so many marketing techniques and channels available, there is no reason to avoid competition no matter who the heavy hitters are. Let your competitors find all the hot products, then just use superior marketing tactics and strategies.
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    • Profile picture of the author SalesGod
      Originally Posted by federal06 View Post

      Like Grant Cardone said: Dominate don't compete

      I can go to any niche and don't mind about the competition, my focus is to dominate that market.
      yep i was gonna write this same thing.i think grant cardone says it best. dont compete dominate. competition isn't healthy for businesses its healthy for the comsumer. because when businesses compete prices drop. you wanna be way out ahead where your the only choice instead of 20 other companies. Remember when the ipod came out around the time of ipod nano and video? there was hundred of mp3 players on the market some for like $30. were they any competition for apple? did apple have to lower there prices? nope because they dominated the market, they was the only choice if you wanted a quality product.
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  • Profile picture of the author writeaway
    Competition is great because your competitors are already ACTIVELY doing your homework for you.

    They are testing the waters for you.

    Learn from their mistakes.

    Build on their strengths.

    Later movers CAN have an advantage...... It's not just about being a first mover.
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    • Profile picture of the author discrat
      Competition to those who are intelligent, savvy, and hard working is almost always positive.

      It brings the standard up in your business , and the most important thing is it gives optimum Value to
      the End User


      - Robert Andrew
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  • Profile picture of the author Ghoster
    Competition is a good thing. There are things your competitors are doing well, and things they are doing poorly. You can profit from either.
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    On the whole, you get what you pay for.

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  • Profile picture of the author Tom Addams
    I agree with others above.

    A few groovy things about competition:

    1. Signals market demand.
    2. Educates (reverse-engineering).
    3. Forces you to up your game.
    4. Compels development of a USP.
    5. Invigorates certain types of entrepreneur who thrive off competition.
    6. In general terms: improves the market for consumers.

    - Tom
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    • Profile picture of the author TheGMa
      I agree with all of you. Each of you is a true warrior.

      There is a thread by a warrior who wanted to start a site for article-writers. He asked if that was a good idea and if anyone felt the niche was saturated,

      He received one reply that told him yes, the market is saturated. Basically, he was told by this person to forget it and move on. Yech! Fortunately, warriors jumped in and gave him some very interesting tips.

      Competing is the staff of life. Finding ways to go one better than all those others out there is totally engrossing no matter what your niche. The best phrase I ever heard is, "...go after the competition."
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  • Profile picture of the author Phil Essex
    I didn't read the whole thread cause of time but bottom line is you have a global source and competition should not be a factor at all. Your factor should be what is SPECIAL about your business...
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    • Profile picture of the author shaunybb
      Competition in my opinion is what drives me to ensure my content adds as much value, trust and results as I can! Going above and beyond is my goal even in a very competitive niche. So many people try to re invent the wheel and come up with the latest, greatest niche...sometimes this works, but sadly most of the time it does not.


      More competition means more hungry buyers! People need to create a great USP for themselves and really work harder than there competition. Like it has been said above most people choose to take the fast route and then they wander why they can only make $50 a month.


      Do not re invent the wheel.....learn how to dominate the existing lucrative wheel!!
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  • Profile picture of the author Complex
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    • Profile picture of the author Steve B
      Competition is the basis of our free market economy.

      Limiting the competition or regulating it so heavily that it stifles competition typically has had disastrous results.
      "The idea of imposing restrictions on a free economy to assure freedom of competition is like breaking a man's leg to make him run faster."
      Morris R. Sayre

      Everyone is welcome in the pool. Those that don't figure out how to stay afloat will be naturally eliminated.

      Steve
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      • Profile picture of the author Tom Addams
        Amen. On every score.

        Originally Posted by Steve B View Post

        Competition is the basis of our free market economy.

        Limiting the competition or regulating it so heavily that it stifles competition typically has had disastrous results.
        "The idea of imposing restrictions on a free economy to assure freedom of competition is like breaking a man's leg to make him run faster."
        Morris R. Sayre

        Everyone is welcome in the pool. Those that don't figure out how to stay afloat will be naturally eliminated.

        Steve
        What Steve refers to is "Pareto efficiency," which, in brief, describes market efficiency brought about by supply and demand that is influenced by competition; a situation where you can't make one person better off without making another person worse off. Economic equilibrium.

        - Tom
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  • Profile picture of the author Jonathan S
    In my opinion, it depends. Competition is good when the product is in high demand and the entry is not very saturated, you can always win by doing things differently. However, if "everybody is doing it", it's time to get out and stay out.
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  • Profile picture of the author Randall Magwood
    I try not to go into niches with alot of competition, but it's not like you're going to encounter a niche where NOBODY is there selling to them. Competition is what it is: Competition. Don't worry about you.

    Some people you will attract just because you have a different way of helping them achieving a goal - or solve a problem. Just because there are other competition in your niche, it doesn't mean that you can't make money there either.

    I'm sure you're a smart marketer.... do what the experts on the WarriorForum would do. Channel them and assimilate their thought process.
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  • Profile picture of the author Sarevok
    I believe that the Internet is saturated. Competition is therefore a necessary evil at this point.

    The cost of traffic is up. The awareness of your end users is at an all time high. There's more and more vendors.

    Every plausible niche is stuffed to the brim with fierce competitors.



    If there's no competition... You're probably in an untested, and unproven niche...

    So, my advice is to work harder, and smarter, than the others.

    Also, make sure you're damn passionate about whichever niche you go into... Or you'll ultimately end up failing, because you will never want to fight for your authority.



    Just my humble $.02, I wish you the best.
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  • Profile picture of the author Raydal
    The seller doesn't benefit from competition, the buyer does.
    So if you are a seller and say that you "enjoy" competition, then
    something must be wrong.

    -Ray Edwards
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    • Profile picture of the author Tom Addams
      Originally Posted by Raydal View Post

      The seller doesn't benefit from competition, the buyer does.
      So if you are a seller and say that you "enjoy" competition, then
      something must be wrong.

      -Ray Edwards
      Even a first year economics student would disagree, I'm afraid, Ray. Heck, even a first year G.C.S.E student. Having spent 6 years studying economics at university and going on to travel the world with a telecommunications multinational, I'd also have to disagree. Quite a bit. A full explanation would take up my entire day, so in brief, and in layman terms: monopolies are more likely to suffer cost and quality inefficiencies, to be less innovative, to experience negative issues of personnel motivation, to gain less understanding of the core audience and - among other issues - encounter weakened sales by effectively not selling what the audience demands, produce products of less quality than they would in a competitive market (inviting all associated problems). I could go on.

      Take the WSO section as an industry microcosm. If we allowed one vendor, Joe Blow III, to monopolize the WSO market with his own products, this would likely happen to Joe Blow III (I'll list 3 big outcomes, in the interests of brevity):

      1. Innovation. A competitive WSO market would enable Joe to learn from his competition and thus lead him to produce WSO products he would never have dreamed of producing. Furthermore, having been educated by the competition, his products would likely be better. Better products (and more of them) in a WSO market where products are essentially luxury items, would lead to higher super-normal profits.

      2. Core Audience. A characteristic disadvantage of the monopoly is complacency in regards to understanding the core audience. Traditionally, and this would happen in the WSO example with Joe, there is less incentive to learn how to deliver the ideal product or service to the target audience. In the case of Joe, this might mean he misses the boat. Sales would be negatively impacted if, for example, he fails to understand his audience require products about Facebook Group growth.

      3. Price setting. One of the benefits of a competitive market - as Adam Smith would tell you - is market efficiency, where competitive pricing naturally (without influence) leads to a state of market equilibrium, where, in effect, and in short (as hell), the right price is charged. In a luxury market, such as the WSO, determining the right price for each of your WSO products would be an ongoing battle to determine each relevant price elasticity of demand, which of course fluctuate with too many variables to mention. And in the luxury WSO market, you'd constantly suffer sales inefficiencies because of it.

      Something, in short, must be wrong if you don't like competition.

      Originally Posted by The Niche Man View Post

      Can't say that I get a 'warm fuzzy' feeling from competition like everyone else here seems to. But it does challenge me to get better, work harder and think smarter.

      But to be honest I'd much rather have the whole house to myself, so I look to exel at things my competitors don't like to do ...or do as well. That makes many of my competitors go ... Poof!
      Just to clarify: you effectively remove competition in the market by entering a market and doing (a) something the existing competition does not like to do or (b) cannot do as well as you can. Am I understanding correctly? For (a): I'm not sure I understand why they would leave the market if you entered, unless they felt some altruistic desire to supply the products or services before your entry, and after it, with you supplying, they said, "Oh, super. Look, he's doing it now. Thank goodness, we can do something else." For (b): this I can understand. So what you're saying is you enter the market and do something so amazingly well that the competitors say, "Crickey! We best up our game or jump ship." And when they can't up their game, they leave the market. Can you give any examples where you've done this? I can understand, though, if you'd prefer to keep them private.

      - Tom
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      • Profile picture of the author Raydal
        Originally Posted by Tom Addams View Post

        Even a first year economics student would disagree, I'm afraid, Ray. Heck, even a first year G.C.S.E student. Having spent 6 years studying economics at university and going on to travel the world with a telecommunications multinational, I'd also have to disagree.
        I must be really slow because all those reasons you gave benefit the buyer,
        not the seller. If I am the only person you can buy a product from, then I don't
        have to worry about innovation, pricing and audience because nobody can
        beat me. It will be "nice" to do those things, but I don't have to because I'm
        the only one with the product.

        -Ray Edwards
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        • Profile picture of the author Tom Addams
          Originally Posted by Raydal View Post

          If I am the only person you can buy a product from, then I don't have to worry about innovation, pricing and audience because nobody can beat me. It will be "nice" to do those things, but I don't have to because I'm the only one with the product.

          -Ray Edwards
          Ah, but you do have to worry about those things in markets where demand is elastic, which describes the majority of markets. Forget the market for WSOs. Instead, consider the entire MMO market. Ray produces 1 product that teaches people how to make money. What if the product stops being good? What if you never price it optimally? What if you fail to produce other products that your audience would have purchased? In relative terms: weakened sales. This speaks nothing of what other suppliers might do in related markets. What if your product relies on something that is also monopolized. What if you need certain software to produce your product and only I supply it? Since I know you can price set, I can also price set. I can charge whatever I like because without me you have no product and thus no revenue. The price I charge is likely going to bring about a situation of normal profits for you at best, but most likely - significantly less profits than where both markets operated according to competition. Perhaps the biggest disadvantage is the stagnancy of product or service innovation. Imagine, for example, that Apple had a monopoly and only produced the iPhone. Sure, they'd still be doing well. But without competition, they may never get the idea, that spark of inspiration, to produce the Mac or the iPad or any number of other products. Jobs actually had the idea for the mouse he sold with the first Mac when visiting a science lab (I forget the exact details). Consumers would generate X amount for Apple by purchasing the iPhone, but these people are also willing to purchase other products to increase X further. If you don't know what they are, though, you can't produce them.

          - Tom
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          • Profile picture of the author EricBernard
            It's not competition, it's CO-OPETITION.

            I make sure I'm not competing, but learning. I guess technically I am competing but it just doesn't feel like that because I actively seek out people doing the same thing I'm doing and try to learn from them.
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      • Profile picture of the author The Niche Man
        Originally Posted by The Niche Man View Post

        Can't say that I get a 'warm fuzzy' feeling from competition like everyone else here seems to. But it does challenge me to get better, work harder and think smarter.

        But to be honest I'd much rather have the whole house to myself, so I look to exel at things my competitors don't like to do ...or do as well. That makes many of my competitors go ... Poof!

        Originally Posted by Tom Addams View Post

        Just to clarify: you effectively remove competition in the market by entering a market and doing (a) something the existing competition does not like to do or (b) cannot do as well as you can. Am I understanding correctly?
        - Tom
        Yes, that's always my core goal. If I can't do it in some way I don't enter the market ...or even niche market.

        Originally Posted by Tom Addams View Post

        For (a): I'm not sure I understand why they would leave the market if you entered, unless they felt some altruistic desire to supply the products or services before your entry, and after it, with you supplying, they said, "Oh, super. Look, he's doing it now. Thank goodness, we can do something else."
        Actually, many don't leave the market, usually it's the other way around ... the market leaves them!

        Originally Posted by Tom Addams View Post

        For (b): this I can understand. So what you're saying is you enter the market and do something so amazingly well that the competitors say, "Crickey! We best up our game or jump ship." And when they can't up their game, they leave the market.
        Close but not quite. It would be more accurate to say, "we best up our game or my prospects and customers will jump ship".

        Originally Posted by Tom Addams View Post

        Can you give any examples where you've done this? I can understand, though, if you'd prefer to keep them private.
        Right now I offer a valuable information product thousands have paid for in the past ... for Free and for no email signup. Something that would make most of my competitors knees quiver..
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        • Profile picture of the author Tom Addams
          I appreciate your replies, The Niche Man. I'm going to address them and I'm going to seem confrontational but the purpose is just to understand.

          Originally Posted by The Niche Man View Post

          Yes, that's always my core goal. If I can't do it in some way I don't enter the market ...or even niche market.
          Your core goals:

          1. To enter a market in which your competitors had no prior desire to be a part of in the first place and, after your entry, for an as yet undisclosed reason, decide to leave.

          2. To enter a market and by offering a superior product or service force out your competitors who run away with tails between legs.

          And if you feel unable to achieve the above, you never enter the market in the first place.

          Now, admittedly, I know very little about you or your business. What I do know is that you post on Warrior Forum and your signature would seem to indicate that you operate in MMO. This would seem to conflict with your core goals.

          Originally Posted by The Niche Man View Post

          Actually, many don't leave the market, usually it's the other way around ... the market leaves them!
          Just so I understand: so adept is your entry into a market, quite often one-hundred percent of consumer demand becomes directed at your products or services. As an example, let us compare it to the market for smartphones. Apple might introduce the iPhone10 and the resultant effect would be for every other supplier to close up shop. I assume I have this right.

          Originally Posted by The Niche Man View Post

          Close but not quite. It would be more accurate to say, "we best up our game or my prospects and customers will jump ship".
          Understood. And, yes, that certainly spells it out more clearly.

          Originally Posted by The Niche Man View Post

          Right now I offer a valuable information product thousands have paid for in the past ... for Free and for no email signup. Something that would make most of my competitors knees quiver..
          I believe I've read the product. Thanks for your replies!

          Cheers! - Tom
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    • Profile picture of the author Anton543
      Originally Posted by Raydal View Post

      The seller doesn't benefit from competition, the buyer does.
      So if you are a seller and say that you "enjoy" competition, then
      something must be wrong.

      -Ray Edwards
      In theory, yes, not always in reality. Compititon can push up price to the end consumer. Let's say you have sports rights, which were previously held by a single broadcaster but a new deal has forced those rights to be divided between two broadcasters resulting in a fan having to pay two different companies if he wishes to watch all the action. This is the case with the rights of a certain competition which I won't mention here. Fans have ended up paying more.
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  • Profile picture of the author st0nec0ld
    Competition is a challenge; it can be both a good and a bad thing.
    It is actually fun and thrilling to compete.
    It brings out the best of whatever it serves.
    It does not only apply in business industry but also in some aspects of our everyday lives.
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  • Profile picture of the author CoralBayLover
    I don't think it is always a choice...

    Entering an existing and proven market is always a lower risk option but the return ceiling is more predictable, as a result you will have to fight for market share.

    To pursue a new idea is high risk as it could land anywhere from complete failure to massive hit. It's also hard to come up with good ideas and even harder to execute on them. Sometimes commitments don't allow for such risk taking, at least in the mind of the individual.
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  • Profile picture of the author JenniferGiacoppo
    What most people don't realize is that there is 'enough' to go around, and since no two people are the same we are all offering from different platforms. Competition is powerful because you can learn from others when you are in it. Competition pushes you to evolve and evoke from you what can be. If it were not for competition there would not be better.
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  • Profile picture of the author dee4d
    Competition is healthy. One should analyze competition and benefit from it. We should actually go for the big 4! It's just how you do it.
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  • Profile picture of the author ggdroid
    I don't know
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  • Profile picture of the author itos
    Internet is a giant place. So if you plan on building an authority site then competition is not that bad at all. But if you only want a quick buck and make a micro niche site with thin content, you will compete with tons of other similar sites and probably you won't rank at all.
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  • Profile picture of the author RyanLima
    Hi wfletch24,

    You can make money in almost any Niche where there is high - even extremely HIGH competion!

    There are always different angles to hit a specific niche and get good steady traffic to squeeze pages, sales pages, blogs etc.. If you do it right you can easily exract revenue..

    I alomost NEVER look at the competition unless I am reverse engineering what they are doing etc.

    Just dig in!

    Note: The ONLY niche where I couldnt get ANY of my campaigns successful was the "Quit Smoking" niche... Weird I know but I just couldnt get anything successful so I moved on.

    Hope this helps.

    - Ryan
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  • Profile picture of the author leilani
    I think competition is great. It gets people to be creative.

    Creativity finds a greater solution to a common problem. Something that people are not looking at.

    In marketing, we have a lot of "monkey see, monkey do" marketers. Every once in a while, you will have someone that re-analyzes the problem and finds a solution that was actually obvious.

    So I am for competition in that respect.

    Just,
    Leilani
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    • Profile picture of the author The Niche Man
      Can't say that I get a 'warm fuzzy' feeling from competition like everyone else here seems to. But it does challenge me to get better, work harder and think smarter.

      But to be honest I'd much rather have the whole house to myself, so I look to exel at things my competitors don't like to do ...or do as well. That makes many of my competitors go ... Poof!
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  • Profile picture of the author @tjr
    Seems like the optimal time to plug a book that I think should be required reading for anyone trying to get into/understand business.

    It's called Naked Economics.
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  • Profile picture of the author brettb
    This morning the boss of my day job company bought me breakfast. He told me he started the company by taking out ads showing how his company was 50% cheaper than company X.

    Eventually company X went bust.

    So don't fear the competition, just be better than them.
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    • Profile picture of the author discrat
      I have to agree with Tom. Look at the bigger picture and it is obvious that competition benefits the Seller and Buyer.

      In the end , it brings on advancement and takes a creator to new heights of success that he would NOT have realized if he was the only one in the Marketplace


      - Robert Andrew
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  • Profile picture of the author extrememan
    I do if I'm NOT doing SEO. Would take ages to rank for high competition keywords. If I'm creating a sales funnel - then not so much. It's a way for me to check if a niche is profitable or not when building lists. But, for ranking websites. I go after the low hanging fruit keywords.
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  • Profile picture of the author moravian
    You can take a word COMPETITION and compare it somehow with a word CHALLENGE.

    Our whole physical, psychological, mental and spiritual life is being challenged at all times.
    Generally, we are all equipped to deal with it and sometime even to enjoy it.

    So, in my opinion, a competition is normally healthy stage for a general improvement of any given situation.

    George
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  • Profile picture of the author Shaneman
    I learned from a well known internet marketer that instead of thinking of others that are in the same niche as competitors, think of them as potential partners.

    As at anytime you can develop online friendships with anyone who is in the same niche - which can result in helping each other to grow each others businesses.
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  • Profile picture of the author smasif15
    According to marketing study Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market-share growth. Companies strive to increase sales volume by utilizing the 4 components of the marketing mix, also referred to as the 4P's: product, place, promotion, and place.

    Some of the early steps in designing a successful marketing strategy include knowing and understanding your competition. Consequently, if you are not current on who the competition is, it becomes likely that another firm can provide a competitive advantage, such as product offerings at lower prices or value added benefits. Identifying your competition and staying current with their products and services and critical to remain competitive in the market.
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  • Profile picture of the author uma singh
    Completion is good thing. Completion show what is new in market what are doing competitors what should I change etc.







    Originally Posted by wfletch24 View Post

    Competition is something that I always see as a good thing. Many people see competition as a bad thing when choosing a niche or creating a product etc.

    But where there is competition there is profitability. And I would rather sell to people who are used to being sold to and used to being marketed to than in a niche that isn't.

    Yes, there is a lot of competition in those markets but it can be easy to stand out from the pack. Most people try to take the easy way out so you can easily stand above the competition by providing value to the people you are selling to.

    Most people wont, most will go for the quick buck. This gives you the opportunity to quickly stand out and start building an audience.

    What is your opinion on competition? Do you go after niches with lots of competition?
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  • Profile picture of the author Brent Stangel
    No one ever got rich by having a corner on the market?

    John D. Rockefeller would buy out his competition. If they wouldn't sell he would put them out of business by any means necessary.

    Who wouldn't want to be the exclusive distributor of smart phones, or Internet access or gasoline?

    But I'll defer to the "expert" in this thread. What do I know?
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    • Profile picture of the author Tom Addams
      BS, competition in a market is widely regarded as beneficial to both buyers and suppliers, and it appears that the majority of marketers within this thread would agree. Which is not to say that a healthy debate on the topic is off the cards. There are many instances where zero competition or a distinct lack of competition is of benefit to the supplier - and we see evolve, as such, monopolies, duopolies, oligopolies. To say competition benefits the supplier (and indeed the buyer) is merely a generalization, a case of saying, "On the whole, it's better."

      Originally Posted by Brent Stangel View Post

      What do I know?
      I'm keen to find out myself. Please, don't see the above opinions of others as unwavering. Consider them more as an opportunity for pleasant debate. In other words: do share your thoughts.

      - Tom
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    • Profile picture of the author @tjr
      Originally Posted by Brent Stangel View Post

      No one ever got rich by having a corner on the market?

      John D. Rockefeller would buy out his competition. If they wouldn't sell he would put them out of business by any means necessary.

      Who wouldn't want to be the exclusive distributor of smart phones, or Internet access or gasoline?

      But I'll defer to the "expert" in this thread. What do I know?
      Rockefeller didn't avoid competition though. You could even argue it was good for him, at least in my opinion. Buying out or decimating competition is just winning the game, it isn't the avoidance of competition altogether.

      Usually, an IMer (of the caliber that frequents this forum and ask these kinds of questions) isn't going to have the funds, business acumen, or "killer instinct" to do what Rockefeller did. I don't think kthe comparison directly applies, outside of the characteristics you would need to thrive in a competitive environment.

      Sincerely,

      Not The Expert
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  • Profile picture of the author BartsTreasures
    At one time, Ford motor company was by far the largest automobile maker in the world...All of their cars came in black...When consumers started asking for cars in different colors, Henry Ford sarcastically responded, "You can have your car in any color you want, as long as it's black".

    General Motors, however, saw this as an opportunity and started offering their cars in a variety of colors..They quickly overtook Ford and became the #1 automaker in the world.

    The lesson?
    1) Don't go after a NEW market (steam powered cars never caught on), but DO go after established markets (where there's lots of competition).
    2) Find something your competition isn't doing (or is too lazy to do) that your customers would VALUE and DO IT! By doing this you are differentiating yourself from the competition WITHOUT getting into a price war (I bet GM customers were willing to pay a premium price to get alternate car colors!)...Essentially, you are eliminating your competition by offering something your competition doesn't have.

    For example...Are you making a big deal of your guarantee? Many of your competitors will say "90 Day Guarantee"...In MY WSO's (and other products) I say something like...

    I am so confident that you will LOVE THIS COURSE and PROFIT HANDSOMELY from it that I am giving you a FULL UNCONDITIONAL 30 day 60 day “NO Questions Asked” 100% REFUND GUARANTEE.

    If you aren't fully satisfied (and in fact THRILLED) with this course package and everything it contains, I will GLADLY refund you in FULL so you are not out one single penny! Your happiness is worth MORE to me than a few dollars, so I am happy to stand by this guarantee.

    So take an in depth look at this entire course with ZERO RISK! I'm that confident you will SUCCEED with this incredible course!


    See how mixing empathy with the guarantee differentiates it from the competition? It's not WHAT you give, but HOW SPECIAL YOU MAKE YOUR CUSTOMER FEEL when you give it...That's a great way to differentiate yourself!

    Bonuses are another simple way to differentiate youself...When I promote an affiliate product, I often throw in my own exclusive bonus FREE...Sometimes I've had people buy the affiliate product just to get my bonus!..But the point is, this instantly gives you an exclusive offer that NO competing affiliate has! You've eliminated your competition!

    When I see these WSO's where it says "such and such" is beyond the scope of this guide, I read it as "Hey here's an opportunity for me to crush he competition by expanding on this topic!"

    Hope this helps
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    • Profile picture of the author webmarketer
      Competition denotes commerciality. Either one innovates (thru creativity or by going the extra mile) or diversifies to stay ahead.

      Originally Posted by BartsTreasures View Post

      At one time, Ford motor company was by far the largest automobile maker in the world...All of their cars came in black...When consumers started asking for cars in different colors, Henry Ford sarcastically responded, "You can have your car in any color you want, as long as it's black".

      General Motors, however, saw this as an opportunity and started offering their cars in a variety of colors..They quickly overtook Ford and became the #1 automaker in the world.

      The lesson?
      1) Don't go after a NEW market (steam powered cars never caught on), but DO go after established markets (where there's lots of competition).
      2) Find something your competition isn't doing (or is too lazy to do) that your customers would VALUE and DO IT! By doing this you are differentiating yourself from the competition WITHOUT getting into a price war (I bet GM customers were willing to pay a premium price to get alternate car colors!)...Essentially, you are eliminating your competition by offering something your competition doesn't have.

      For example...Are you making a big deal of your guarantee? Many of your competitors will say "90 Day Guarantee"...In MY WSO's (and other products) I say something like...

      I am so confident that you will LOVE THIS COURSE and PROFIT HANDSOMELY from it that I am giving you a FULL UNCONDITIONAL 30 day 60 day “NO Questions Asked” 100% REFUND GUARANTEE.

      If you aren't fully satisfied (and in fact THRILLED) with this course package and everything it contains, I will GLADLY refund you in FULL so you are not out one single penny! Your happiness is worth MORE to me than a few dollars, so I am happy to stand by this guarantee.

      So take an in depth look at this entire course with ZERO RISK! I'm that confident you will SUCCEED with this incredible course!


      See how mixing empathy with the guarantee differentiates it from the competition? It's not WHAT you give, but HOW SPECIAL YOU MAKE YOUR CUSTOMER FEEL when you give it...That's a great way to differentiate yourself!

      Bonuses are another simple way to differentiate youself...When I promote an affiliate product, I often throw in my own exclusive bonus FREE...Sometimes I've had people buy the affiliate product just to get my bonus!..But the point is, this instantly gives you an exclusive offer that NO competing affiliate has! You've eliminated your competition!

      When I see these WSO's where it says "such and such" is beyond the scope of this guide, I read it as "Hey here's an opportunity for me to crush he competition by expanding on this topic!"

      Hope this helps
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  • Profile picture of the author pensbury
    Beware the market with NO competition!

    If nobody else is offering a particular product or service, there's probably a very good reason.
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  • Profile picture of the author yakim1
    I have read most of the replies here and see that most people think competition is good. but fail to really explain accurately why. Sure competition can indicate many thing about a certain niche, but other than that everyone that has posted has the wrong mindset.

    The mindset is how you actually look at each competitor. Some say that competition does not benefit the seller. This is a huge mindset problem. This is because you can use your competition to skyrocket your business faster than anything else.

    Here is what no one has mentioned in this thread...

    I look at each competitor as a potential Joint Venture Partner. I'm not talking about you mail for me and I mail for you kind of Joint Venture. Some of that may be involved but I'm talking about Integration Marketing.

    I contact my competitors and explain how they can make more money when they sell their own products. This involves integrating, in many different ways, your product into the marketing of their product and visa versa.

    To make this simple, when they sell their product it advertises your product, in many different ways, which the competitor earns a commission on every sale.

    It could be as simple as adding a bonus on their sales letter, adding an ad on their download page or even a sales funnel change.

    Using Integration Marketing strategies can cause your business to grow very, very quickly in the matter of days instead of years.

    PM me if you would like more no cost information about Integration Marketing. Everyone posting to this thread should be looking into Integration marketing as much as they can.

    I hope this has been helpful,
    Steve Yakim
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  • Profile picture of the author pensbury
    I'd like to look at this from a different angle for a moment. (Not specifically Internet marketing, but marketing in general).

    Imagine you are ALREADY in a competitive market. What if a competitor (either one of your existing competitors or someone completely new) develops a new innovation which is so good it could put you out of business?

    Obviously, that would be bad for you. So, how can you avoid it?

    The answer? Get there first! In other words, as well as constantly trying to develop and improve your product, you should also be thinking ahead by asking "what product could come along and make mine redundant?" And then, of course, make that product.

    Sooner or later SOMEONE will produce that new product, so make sure it's you..
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  • Profile picture of the author quadagon
    My market position provides bias for my view on competition.

    When I launched a business on the kindle platform I did so because nearly all of the existing market was dominated by two players.

    These two players were traditional publishers who really didn't/don't understand the kindle market.

    I knew I could add value to the end user and differentiate my product from theirs.

    I also had the foresight to see how the market was to progress and new that I could leverage some of their existing clients away from them.

    In this scenario I was happy to see competition as it proved proof of concept. It also allowed me to develop an exit strategy. If I can make enough noise I have two potential buyers. I could create a bidding war to put myself out of business.

    In some of my other companies I'm happy to see competition come into the market as they can't compete at my level.

    In fact I seem to get a lot of business from their disgruntled customers which is great. Especially when you are offering a premium service.

    If I am the big dog in the market I try and keep my ear to the floor to see what's happening in the industry. Smaller companies and start ups have a more adventurous spirit and try things we never would.

    I like to keep my eye on these so I can assimilate or crush them early on - it works out much cheaper this way.

    So I guess I like competition if I am new into a market but fear it if I am the big dog in the market.
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    • Profile picture of the author Karlb
      I can see both sides of the argument. To promote a product with a low gravity CAN WORK. Some people swear by it. I recently tried it (didn't pay for ads or anything like that) and I am getting lots of hops and some sales on that particular product.

      For me, I've had the most luck with mid-range products - not the super popular, competitive products but for the ones with a gravity between 20-35.

      You will find people on WF who experience huge success marketing the most popular, competitive products and some who affiliate the low-gravity products.

      The key is doing a good job promoting. Most people do minimal work promoting a product. And of course it helps immensely if you're an expert and develop a following and mailing list. You can take the most popular product in the world and send it to your mailing list and if anything, you'll do get sales. I know your question refers more to online than mailing list but I digress - I think having customers come to me through my expertise on the subject is the way to go - then I can recommend products to them.
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      • Profile picture of the author The Niche Man
        I'm not sure if there is a such animal as "no competition" anymore par se'. I don't just consider people in my market or even niche as competition. My other and sometimes biggest competition is people's other growing options, choices or alternatives (including doing nothing).

        For example, if I'm an airline my competitors is not just United, Delta, or Southwest. My Competition is also Amtrak, Greyhound, the personal car, and the growing "stay cation" movement (or spending vacations locally) and more!

        I've got to overcome all those other choices to make the sale now. That applies to every industry. Ready or not, our customers are getting more choices, options and alternatives besides us - or even our type of products, services or industry. Ironically, our direct competitors is the easier part. It's the enemies (competitors) we can't see that could pose the biggest dangers. Can you say ... "Blindsided?
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  • Profile picture of the author moravian
    You have no control over what the other guy does. You only have control over what you do.
    A. J. Kitt
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    • Profile picture of the author quadagon
      Originally Posted by moravian View Post

      You have no control over what the other guy does. You only have control over what you do.
      A. J. Kitt
      In this day and age I'm afraid this isn't true.

      I can put in place exclusivity contracts with suppliers and retailers and squeeze a business out at both ends of the market.

      I can negatively SEO a competitor

      I can bring down their website

      I can leave negative reviews online and pay others to do the same.

      I can kill your time and resources with frivolous lawsuits If i know you don't have the same funds as I do then I can keep dragging the experience out.

      And that's just off the top of my head. More worrying though, someone could do that to me.
      Signature
      I've got 99 problems but a niche ain't one
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  • Profile picture of the author tolks
    The word competition to me in a simple definition is what i call a PUSH to do more to overcome any challenges that may want to press you down to bottom to stand side by side with your competitors
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  • Profile picture of the author quadagon
    Agree with a lot of what niche man says but would add that it's often competition that we dismiss that cause fatal damage to a business. Usually this is because we think we know our customers better or the unforgivable arrogance of 'its always been this way'.

    Look at blockbusters, the music industry, commercial airliners, bookshops all dismissed competition because they thought they knew better.
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    I've got 99 problems but a niche ain't one
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  • Profile picture of the author sharfaraz516
    Banned
    focus on the market rather than the niche
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  • Profile picture of the author timlazisa
    I used to run a bathroom installation company and loved competition, at the end of the day it was all about me delivering a more professional service than my competitors.
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  • Profile picture of the author Gabbarsingh
    I do not entirely believe that competition is good.. i was in a niche that was not very competitive at start.. ..

    But then it did become competitive and harder seo wise to maintain rankings.... and so income dropped..

    Now i am just focussing on a newer niche that is easier to convert into sales with lesser competition..

    So competition can also be bad... but if you are an seo and ranking guru.. yeh sure it i can be good!!
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  • Profile picture of the author Big Al
    I go after niches I know a bit about so I have some level of confidence in the niche, regardless of competition.

    That said, I wish I had the brass balls (and the skills) to pick a crazy busy niche and give it a go, fight for a corner spot and learn how to outsell the competition.
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    • Profile picture of the author myob
      Originally Posted by Big Al View Post

      I wish I had the brass balls (and the skills) to pick a crazy busy niche and give it a go, fight for a corner spot and learn how to outsell the competition.
      The most profitable niches are generally also the most competitive, but this can work to your advantage. The competition has already done most of the heavy lifting in product research and educating the masses, so the purchase decision essentially rests on those who can present the most favorable perception. A very common mistake that most marketers make is using the same methods as their competition, then conclude the market is impossible to break into (ie "saturated"), when in reality this is only true for the marketing method itself.
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      “If I have seen further than others, it is by standing upon the shoulders of giants.” – Isaac Newton
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  • Profile picture of the author quadagon
    Just as a point of record you could buy the model t in several colours its not true that it was only available in black.

    The story appears to fictitious or at the very least the quote is taken out of context.

    There another fictious story regarding 7up that's often told as well.
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  • Profile picture of the author AffEngineer
    Totally Agree!

    Competition is a good thing, it takes people some time to figure that out.

    Competition often means it's a healthy niche/industry.

    I don't even look at competition, if I do, it's to see what their customers/viewers are complaining about so I can make a better product.
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  • Profile picture of the author Adrian Nutiu
    Competition has a bad connotation from the old days. For example when someone bought a fridge this meant they would not buy another one too soon.

    This does not apply to info products and other digital businesses. If someone is passionate about something it is most likely he will buy a lot of products about that. So competition becomes business opportunities(JV...).
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  • Profile picture of the author drjoeel
    I do not truly believe in competition especially since my products are meant to help people, therefore any one doing something similar has the same end goal. So whether it is me or someone else than the person is finding solutions to create the life they want.

    Also everyone takes information in differently, meaning you and I can share the same message but my style is more appealing to certain people and vise versa.

    Also competition creates a market. There are people out there that may have been expose to information about a topic due to the marketing of a another business similar to mine. This exposure will lead people to want to get more information in the future. Therefore, I believe that in the long term that we all help each other grow.

    Competition also makes us strive to create a better product and holds us to a high standard.

    That is my opinion
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