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Niklas Myhr, Ph.D.

The Social Media Professor | Digital Marketing Strategies

My Favorite Marketing Term

February 7, 2013 by Niklas Myhr

There are still executives out there who seem to believe that success can be had by simply meeting customer needs. Well, perhaps that in itself is not that simple as it takes some effort to first identify a target segment and then conduct some market research to better understand the customer needs. Still, that is no longer sufficient.

Why not? Simple, technology and globalization has enabled more and better competitors from around world to also market to the whole world both online and offline. In such a hypercompetitive environment, you are toast if you just meet customer needs. Selling yet another me-too product just like many others who conducted similar market research studies is not going to cut it.

So, what is the way out of this conundrum? Here’s my favorite marketing term comes into play. The word is differentiation and speaks to the potential for company offerings to not only meet customer needs but also to be perceived as better or different as compared to the offerings of competitors in some regard that the target market actually values and is willing to pay a premium for. Differentiation allows companies to escape the undesirable commoditization trap where you only compete on price with standardized products and services. Hence, the key is to identify in which dimensions you would like to achieve a desirable positioning via differentiation and in my book, without differentiation, we wouldn’t need marketers 🙂

Filed Under: Marketing Tagged With: #blogg100

About Niklas Myhr

Niklas Myhr, PhD, CSP, The Social Media Professor, is an international TEDx and keynote speaker serving as an advisor to HSH Prince Albert II of Monaco. Dr. Myhr is a CSP® (Certified Speaking Professional™) and a Certified Virtual Presenter offering keynote presentations, talks, workshops, and executive education programs at conferences, businesses, public sector organizations, and universities. Dr. Myhr has spoken in Europe, in the United States, and in Asia, and his expertise on social media and digital marketing has been featured in BBC, The Washington Post, ABC, CBS, and NBC. Dr. Myhr is Google’s #1-ranked “Social Media Professor," and he teaches at Chapman University in California. Niklas Myhr holds a Ph.D. in Marketing from the University of Virginia, and an MS from Linköping University in Sweden.

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Niklas Myhr, PhD, CSP (Certified Speaking Professional)

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Niklas Myhr, Ph.D.

Please email me at niklas [at] thesocialmediaprofessor.com if you have any questions!

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