What is Differentiation?
A free video tutorial from Tony Prouse
Business Strategy and Growth Coach
4.4 instructor rating • 1 course • 4,294 students
Learn more from the full courseBusiness Strategy Development: The Art of Differentiation
Learn 3 key business strategy tools. Improve your business innovation skills and drive profitable business development.
01:27:27 of on-demand video • Updated January 2020
- Find ways to stand out from your competitors by differentiating better than them
- Play to your strengths and confidently identify the areas that will grow your business
- Practice 3 strategic tools to strengthen your business strategy
- Avoid common mistakes & learn how top companies have successfully differentiated themselves
- Increase your value - shape a strategy to attract customers that truly value you
- Business Analysis: Fix potential disablers that could be hurting your business development
English [Auto] So what's his differentiation Well by definition it's the ability to distinguish between one or more things. But in business it's about knowing what your actual strengths are and using the strengths to create real value for our customers. So we can improve our margins our spend our time wisely targeting the right customers. Civilizations are there individuals and even the animal kingdom happy differentiating themselves over many centuries sometimes unknowingly and sometimes unknowingly but those that have differentiated successfully have achieved Farmall many people confuse differentiation to simply be unique. What's been unique can help you stand out. It can lead to standing out for all the wrong reasons. People also confuse differentiation by trying to simply turn their weaknesses into strengths. This can be a trap as what differentiates us can be very different. What differentiates our competitors and it's not just a marketing or branding exercise. It's far more fundamental than that. It's about how we think how we run our businesses day to day. And strategically we can begin to think about differentiation as a combination of the advantages that set ourselves apart. So for example Tesla has created advantages in a range and life of batteries that has allowed them to break into the mass car market with their electric vehicles. Deusen with that vacuum cleaners have created advantages by doing away with the dust back and increasing suction which has allowed them to change the landscape of the vacuum cleaning industry. So it's the combination of advantages that help companies like Tesla Dyson and Apple become successful despite tough competition. Can you think of another company that has a clear combination of advantages.