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Competitive Replacement Program - an Untapped Golden Nugget
Ask 20 people what their approach to competition is and you will get 20 different responses. Most statements about the topic of competition are expressed with bravado or fear.
It floors me that most firms, large and small, reference the competition and then do little to nothing to actively deal and cope with it.
I could fill this article with case examples of firms that underestimated their competition, ignored it or overstated their own position and strength to find themselves victimized. Any firm that genuinely believes it is immune to competition and shifting fortunes is one that is currently in trouble or will approach it around the bend.
Let’s discuss one angle that will allow you to wreak havoc on competitors and build your customer base at their expense.
A great industry leader, Peter Drucker, once said, “It takes three to five times the effort and cost to develop a new customer, as compared to growing an existing one.” With this in mind, I will outline the basics and fundamentals of implementing an effective Competitive Replacement Program.
Program Overview
The Competitive Replacement Program (CRP) is utilized in situations where it has been recognized and confirmed that a competitor is repositioning its business around a different target market than its traditional base. This means that the competitor is potentially vulnerable to an “unhook strategy.” Its customers will inevitably seek out a replacement supplier once they realize what is going on. This class of CRP is designed to exploit the competitor’s weaknesses and drive the reality and message home that it will eventually abandon the traditional customer base in favor of a new growth segment.
CRP can also be used when a competitor is vulnerable because of inherent problems with its product or services—this leads to dissatisfied customers—or because of financial or organizational problems such as the following:
• Sustained financial losses (particularly evident with public companies) resulting in loss of customer confidence.
• Inability to pump out new products effectively, resulting in a product trough, which allows you to pick up the opportunity base (in the short run)—your competitor is caught off-guard and has no clear product solution. Customers are forced to switch just to maintain the competitive pace and demands of their projects.
• Organizational inefficiencies, which allow you to drive a wedge into your competitor’s dilemma. Active customers will tell you where the “chinks in the armor” are in your competitor’s delivery and fulfillment mechanism.
• Preoccupation with acquisitions or other activities that cause your competitor to take its eye off the ball and leave the active customer base reeling for a proactive replacement supplier.
Other conditions also justify CRP. The key is that you do the homework to be sure you are dealing with facts and reality about your competitor’s situation—and then strike! CRP requires a well-thought-out game plan, which involves the internal and external organization (field sales and support as well as third-party channel partners).
The make-up of an effective CRP can include the following:
• Direct-response campaign (including e-mail communiqué, direct mail, Web site promotion, electronic spot ads, banner ads, E-Casts and so on). This depends on what works in your particular business.
• Prospect contact information—this identifies the make-up of your competitor’s installed base, which fuels the campaign. There are third-party specialists that can provide contact databases, prospect lists or other media that allow you to pinpoint the target audience. Additionally, your field team and third-party partners can help identify “where your competitor lives.”
• Campaign package—this is intended for the target prospect audience and outlines the purpose of the campaign (straight talk), the impending situation with the competitor (optional), benefits of doing business with your firm, a transition plan and probably some financial incentive to make the switch painless.
• Telemarketing—this is a means of introducing the campaign, providing continuous follow-up and guiding the prospect through phases of the campaign (all leading to a successful switch). Telemarketing is coordinated with the field sales team.
• Implementation package—this is designed to familiarize and ramp up the field team and third-party partners that will be the implementation vehicle to drive the campaign at the account level. The package includes a program overview that explains the purpose and objectives, baseline strategy, make-up of the target audience (drivers and hot buttons), initial approach and action plan. This must include performance metrics. Otherwise, the campaign results will not be measurable or manageable.
• A campaign report (simple and easy to use) should be introduced to monitor all aspects and provide insights that fuel mid-course changes and enhancements. Additionally, an “owner” must be assigned who takes accountability, driving and managing the campaign from inception to completion.
The campaign can be spiced with competitive analyses, transition tools (depending on the nature of your business) and financial incentives (for each competitive-replacement win). A theme can also be wrapped around the campaign to make it challenging and stimulating. One campaign was packaged and promoted as “Mission Possible” and was patterned after the TV show. It kept the drive alive for the full campaign period.
CRP lends itself to be introduced at the beginning of a fiscal year and carried through for a 9- to-12-month period. The key is to track the competitive dynamics and make sure the timing is right.
Before going full steam ahead with a CRP, conduct a pilot phase to test the water (with marginal prospects). This will also allow you to properly initiate your field team and third-party partners to the program.
Campaigns such as CRP have created new customer sources of business and generated millions of dollars of return—and without breaking the bank.
What is your rationale for not applying CRP to your business?
Will you be victor or victim in the competitive jungle?
Copyright 2007
Performance Marketing Group
Edmond Hennessy
About the Author
Edmond Hennessy is a seasoned, well-recognized veteran in the COTS Embedded Market. He has authored many works including the “Mission-Ready COTS” Industry Guidebook, “COTS Supportability & the Life-Cycle Proposition” and “Beyond COTS: Repackaging, Reformatting & Tech Transfers.” He has participated in key industry panels, has been a keynote speaker in E-casts dedicated to signal-processing applications and has been tapped as an industry executive to comment on disruptive and emerging technologies that impact the Defense & Military, Homeland Security and Healthcare/Medical Target segments. Mr. Hennessy heads up the Performance Marketing Group (PMG), a private market programs & consulting firm. His new book Market Warfare: Leadership & Domination over Competitors will be released in early 2008. For more information visit http://www.pmgresults.com/ or call (603) 552-2096.
do you have to stay at the golden nugget?
To use their pool?
Thanks for that website. I see that it is a 20 dollar charge.
There is not a charge to use the pool . I live in vegas and have stayed at the golden nugget several times. When you go to get your towels at the towel cabana they will ask to see your room key. There is usually a security officer standing at the doors that lead to the pool asking for room keys as well. The shark tank in the midde of the pool can be veiwed from the deck of the pool and anyone can look at that. If you are not staying there good luck getting into the pool. You should consider staying there becuase it is a great place to stay.
A very busy stretch of top mixed martial arts bouts kicks off on Saturday night when UFC betting odds return to Sydney, Australia, for the second time for a main card headlined by a 170-pound showdown between former two-division champion B.J. Penn and welterweight contender Jon Fitch. While UFC 127 betting odds will take place Sunday afternoon Down Under, it's a Saturday night pay-per-view main card because of the time difference in North America. While neither Penn nor Fitch is looking past Saturday's bout, a rematch for the winner could be in the offering against welterweight champion Georges St. Pierre, who some believe is the pound-for-pound king of the sport in UFC picks.
Fitch (23-3) lost to St. Pierre in a five-round unanimous decision at UFC 87 in August 2008. Since then, he has won unanimous decisions over Thiago Alves, Ben Saunders, Mike Pierce, Paulo Thiago and Akihiro Gono – Fitch was the UFC betting odds favorite in all five. His last bout was the Alves victory at UFC 117 last August. Heading into UFC 127 betting odds, Fitch's past eight fights have gone to the judges. Penn (16-7-1) has lost twice to St. Pierre, the last time coming via a corner stoppage in the fourth round of their bout at UFC 94 in January 2009. Penn won twice in UFC picks following that bout, over Kenny Florian and Diego Sanchez, but Penn's career appeared in some jeopardy after the then lost back-to-back bouts with Frankie Edgar.
But then Penn bounced back in a big way, crushing Matt Hughes in just 21 seconds at UFC 123 in November. "The Prodigy" knocked Hughes flat onto his back with a right cross, then unleashed a flurry of shots to his head that led to their fight being stopped. Penn had considered walking away from MMA after those losses to Edgar, but UFC president Dana White offered a chance at redemption in a third bout with Hughes. In fact, originally Fitch was to fight Jake Ellenberger in UFC 127 betting odds but the switch was made to Penn after the Hughes destruction revitalized Penn's stock in the division. Ironically, Penn brought in Hughes to prepare for this fight with Fitch. Penn said Hughes brought similar strengths that Fitch will on Saturday.
Fitch, especially, should test Penn's conditioning and acclaimed takedown defense and Hughes was an All-American wrestler in college. Fitch, also a collegiate wrestler, has not been finished in a fight since late 2002 and will hold nearly every physical advantage in UFC picks: he is three inches taller and enjoys a four-inch reach advantage. Fitch opened this bout as the -175 favorite in UFC 127 betting odds but early heavy action on him has pushed that number to a current -185. Penn opened at +145 and now is +155. We are seeing two-sided action on both right now but are a bit exposed on Fitch at the opening number. Fitch is 7-0 in the UFC when he is the betting favorite.
He is also 5-0 when fighting outside the U.S. Penn is an underdog for the first time since that second loss to St. Pierre when Penn went off at +135. Fitch is 0-2 in his career as a UFC betting underdog. The winner of Saturday's bout will be named the No. 1 contender in UFC picks for the welterweight division, but that might not mean an automatic shot at St. Pierre. If he beats Jake Shields at UFC 129 in Toronto on April 30th, it's expected that St. Pierre (currently -575 against Shields at online sportsbooks) will move up to 185 pounds for a mega-bout with middleweight champion Anderson Silva.
UFC 127 Picks: Jon Fitch -155
About the Author
Bishop Whitmore is Editor in Chief of VegasSportsOdds.com and has been in the sports entertainment industry for the past 10 years consulting for various media outlets and sportsbooks. View daily sports reviews, poker strategies and casino rooms from Bishop Whitmore at VegasSportsOdds.com.
Will the Montreal Canadians win in this decade?
Ever since they were formed, the Habs have won the Cup in every decade they have played (a rather easy way to get to 24). But this decade is coming to a close soon, and the Habs have yet to lift Lord Stanley's Cup since 1993.
One of the greatest streaks in all of sports is in jeopardy of ending. Will the Habs win one before 2010 or is this the end of the Montreal Canadians as we know them?
I believe 3 things must happen for the Habs to have a shot at the cup before 2010:
1. Huet or Halak must become a consistant star. I mean a 60 start year minimum with all star gaa numbers.
2. Latandresse must live up to the hype. You need to see much more than flashes of greatness, you need him to be an all-star.
3. Koivu must stay healthy and play well for the rest of his playing days to solidify his role as a team leader.
That is alot of ifs, but most would agree that:
great goaltending + young star + proven leader = playoffs
And anything can happen once you get into the dance. Look at the Oilers last year.
Jeopardy! Sports Edition Super Nintendo Redemption #1
Edit Flip Video in Final Cut Express, Get Flip Videos onto Final Cut Express For Mac
One of my friend just bought a Mac Book yesterday, and she's trying to use Final Cut Express but her flip videos do not play. This question often happens to my brother who has a Flip Mino HD Camcorder. How do they get flip videos to play on Mac Final Cut Express, especialy Final Cut Express 4?
Know Something about Final Cut Express
Final Cut Express (FCE) is a non-liner video editing application produced by Apple, which is considered a "step" above iMoive and underneath Final Cut Pro. FCE's interface is similar to that of Final Cut Pro (FCP) and supports the latest AVCHD-format camcorders, yet not Flip camcorder in MPEG-4 AVI/H.264 encoded MP4 format. So you will need a video converter to convert flip video to Final Cut Express supported formats, like dv, hdv, mov, etc.
Now Doremisoft Flip Video to Final Cut Express Converter is a good-professional video converter that can convert flip videos to FCE dv, hdv, mov, etc, but also do additional video editing, like crop, clip, rotate, join clips, add special effects, etc. With this Flip to FCE Converter for Mac, you will easily capture video from a Flip Slide/Ultra/Mino HD camera to Final Cut Express, and make flip cameras video work on Final Cut Express 4.
Step1: Save Flip Video to the computer Connect your flip video camcorder to your computer via the usb arm. You will find your video files in FLIPVIDEO(F:)->DCIM folder. Just copy your videos to your computer. Or install a built-in Flipshare in FLIPVIDEO(F:)---Setup_FlipShare.exe, install it and then you can manage your flip video files in its library.
Step2: Add Flip video files After download and run Flip Video to Final Cut Express Converter, open the interface like below and add your flip videos.
Step3: Set the output format and its destination Select the output format in the drop-down list of "Profile", like DV. Specify its destination when click the "Browse" button.
Tips: Before your video conversion, you can do further editing for your videos, like cut small clips, add special effects, etc.
Step4: Click "Start" button to start converting flip camera video to target format. After successfully convert Flip to FCE supporting formats, you can import the video to Final Cut Express. Then enjoy your video editing in Final Cut Express, including Final Cut Express 4.
About the Author
enjoy flip video editing in Final Cut Express.
Do you think that Wisconsin has a chance to make the Final Four this year?
The Badgers could have won it all last year if Brian Butch hadn't gotten injured.Plus, they're a top notch defensive team who turned it up a notch during the Big Ten season(except for the two Purdue games). I believe they are a dark horse to win it all this year, but I'll settle for the Final Four. Also, Bo Ryan is an underrated coach who brings out the best out of his players.
What is T-Rex talking about? He has Texas over Wisconsin by 15 pts? I do believe that I recall UW beating Texas in Texas earlier this year. And don't say that Texas is better now, SO IS WISCONSIN! They definetely have a chance as long as their d doesn't falter. If players like Leur and Bohannon have big tourneys then they can win it for sure. Bo will have them ready to go.
Playstation 3:
-Motorstorm, Barely Used, no scratches
-Tiger Woods PGA Tour 2007, Used, No scratches
-Need for Speed: Undercover, used rarely, no scratches
-Nascar 08, Barely touched, new, nothing on back (clean)
-Transformers 1 (Game), minor smudging
-Ridge Racers 7, barely used, clean
-Ratchet and Clank Future: Tools of Destruction, clean, minor smudges
Playstation 2:
Starsky and Hutch
Pirates of the Carribean
Guitar Hero 1, 3, and Aerosmith
Burnout 3
Ratchet and Clank Up your arsenal, Deadlocked, and Going Commando.
XBOX 360:
Halo 3
NBA Live 08
NCAA Football 09
Madden 08
Madden 09 Anniversary Edition (Barely Used)
All of the PS2 games are mostly used, not too bad condition, some have minor scratches. Xbox 360 is all clean, may have some smudges.. If you can, can I get an estimate how much I would get roughly if I turn these in? If so, what is it?
No. I don't know your answer, but never sell to gamestop. They will rip you off by 50-60%.
Sell it on ebay or craigslist.com. Ask here if you want to know how to sell things online.
Quality Time with Hutch - PAX Edition! - Hutch Plays Firefall - 8/30/11
One time when I used to be a vibrant boy I saw a documentary on TELLY, that took place to present a substantial tesla coil in operation at some university, from that moment within the Tesla Coil bug obtained bitten me. I knew someday I would have to own personal one particular of those amazing devices. The loud noise, the powerful arcs of flowing electric was absolutely astounding. Now that I am obtaining older, I'm the proud manager of 3 tesla coils, a wimhurst equipment, van de graff generator, odin coil, along with other high voltage products.
Prior to I start telling you how a tesla coil operates, I should bring a little time to inform you about it can be inventor, Nikola Tesla. Nikola Tesla was born on July ten, 1856, he was an inventor, a mechanical and an electrical engineer. Born in Smiljan, Croatian Krajina, Austrian Empire, he was an ethnic Serb topic from the Austrian Empire and later on turned an American citizen. Tesla invented several factors and received obtained all-around 300 patents throughout the world for his concepts. A number of Tesla's patents contain these kinds of remarkable equipment as the AC motor, bifilar coil, numerous units that use rotating magnetic fields, AC polyphase electrical power distribution process, wireless conversation equipment, radio frequency oscillators, voltage magnification by standing waves, robotics, logic gates for secure airwaves frequency communications, products for x-rays, apparatus for ozone technology, gadgets for ionized gases, devices for higher area emission, units for charged particle beams, signifies for increasing the intensity of electrical oscillations, voltage multiplication circuitry, equipment for substantial voltage discharges, devices for lightning security, the bladeless turbine, and several far more.
In case you do some looking on the internet or other resources for tesla coils, most spots make an effort to describe these equipment in phrases that only a physics specialist can realize. We've broken along the tesla coil into it's half a dozen major elements or components, with simple to know terms around the operation. The 6 most important parts are the transformer, capacitor, spark gap, key coil, secondary coil and discharge sphere.
The TRANSFORMER normally requires 110 volt wall socket latest or current from another resource, and steps it approximately various thousand volts (relying within the transformer). CAPACITOR - Functions like a battery, and normally requires the stepped-up voltage and merchants it till it really is completely charged. The moment totally charged, the SPARK-GAP fires, releasing all of the capacitors saved vitality within a sngle powerful burst or pulse. From the SPARK-GAP, the present flows to your huge MAIN COIL. The MAIN COIL, is commonly made from thick copper wire as well as pipe, consisting of 5-25 turns or coils. This substantial copper coil produces a powerful magntic area as the present flows by way of it, the present is then picked up through the SECONDARY COIL. The SECONDARY COIL, functions like a different transformer, and consists of many turns or coils of smaller gauge copper wire. Right here the current continues developing by the results in the magnetic area within the copper, until it reaches huge voltage amounts. This present-day strikes up in the DISCHARGE SPHERE. The DISCHARGE SPHERE also functions like a uncomplicated capacitor (storage battery), prior to discharging the present as sparks and corona.
You could publish this post in your ezine, publication or in your net web site as prolonged as it is reprinted in its entirety and with out modification except for formatting needs or grammar corrections.
Robert W. Benjamin has long been inside software business around the web for around 8 many years, and has become creating minimal-price application for the previous 25+ years. He first released solutions to the AMIGA and C64 personal computer methods in the late 1970's-80's.
A sought-after experienced, humorous, and engaging coach on current women's issues, Maureen Weisner brings a special brand of motivational strategies to women on the edge of transition
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Heroes Season 2 Finale Coming in December?
It seems like it wasn't enough for NBC to cut back on the Heroes spin-off, Heroes: Origins, but they are actually considering biting off the Heroes' second season as well. Right after their announcement concerning the postponement of Heroes: Origins, word has come out that the Heroes production team is overhauling its December 3 episode to serve as not only the end of the second chapter, Generations, but also as the end of the second season, as well.
Viewers are looking at this as a result of the writers' strike, and if this does not get resolved soon, the second season of Heroes will indeed suffer more than just its failing ratings right now. The December 3 episode A.K.A Episode 11, might be the season finale, and viewers will have various reactions to this sudden cutback.
On one hand, this cutback may be a good thing for the fans of Heroes, as they have been quite disappointed at what it has become. Slicing the second season may be good as to give ample time for the creative team to redeem themselves and possibly make a season 3 comeback. But then again, they might have been working on a good couple of episodes, whose momentum may be cut abruptly by the cutback.
Despite the bad news that seems to be falling on our favorite show, the writers assured that there will be two shortened arcs or chapters which will air this season. Whether it will come to the airwaves will remain to be seen, as we still have to wait for Heroes' last season 2 hurrah. Tentative date for the release of chapter 3 is on June 14, 2008, and we have yet to watch out if Heroes will indeed redeem itself from the negative reactions as to what it has become today.