please respond to classmate’s post: When it comes to me too marketing, there are not many ting factors between products. Me-too marketing occurs when a company creates a product similar to its competitors (Bhasin, 2021). A successful strategy that must be implemented during this marketing plan is the company must distinguish itself from any competition. The firm that wants to lead in sales must acquire some uniqueness to stay on top. For example, when going into a local drug store to buy an over-the-counter medication, usually one or more options market their product as equivalent to the leading “name brand”.
When it comes to being a leader amongst the competition, determine what factor best suits your mission. For example, Benadryl ultra-tabs have competition at just about every pharmacy shelf that retails their product. According to Benadryl, their product contains diphenhydramine HCI, an antihistamine, for effective relief from symptoms related to hay fever, upper respiratory allergy, or cold symptoms such as sneezing, and runny nose, and itchy eyes (Benadryl.com, 2022). On the flip side, Walgreens advertises its product as an antihistamine that contains 25mg of diphenhydramine that relieves runny noses, sneezing, sore throats, and itchy eyes (walgreens.com, 2022). So, at this point, the leading competition may rely on price points and brand loyalty. However, since customers interact with Walgreens for their shopping needs, people may tend to buy their brand if the customer service needs are met.
For a company to be successful in me-too marketing, it must have a substantial core capability to lead the competition. Since there are many strong competitors out there, to be a leader in the competition you must know your competition’s game plan and stay ahead. Competitors. Some factors you need to focus on are staying ahead of market needs, demands of goods, customer service, and an effective pricing strategy (Freedman, 2022). Of the listed strategies for leading sales, is providing good customer service. Building a relationship with the consumer speaks volumes when it comes to competition. For example, Target has remained a top competitor against Wal-Mart for years due to the amount of time they spend teaching customer service skills.
References:
Benadryl® allergy ULTRATABS® tablets with diphenhydramine. BENADRYL®. (n.d.). Retrieved July 11, 2022, from https://www.benadryl.com/products/benadryl-allergy-ultratabs-tablets
Bhasin, H. (2021, January 4). Me too marketing explained. Marketing91. Retrieved July 11, 2022, from https://www.marketing91.com/marketing-explained/
Freedman, M. (2022, June 29). 5 ways to beat the competition. business.com. Retrieved July 11, 2022, from https://www.business.com/articles/5-ways-to-beat-competition/
Walgreens wal-dryl Allergy Relief Coated Mini Tabs. Walgreens. (n.d.). Retrieved July 11, 2022, from https://www.walgreens.com/store/c/walgreens-wal-dryl-allergy-relief-coated-mini-tabs/ID=prod2502002-product
