By Mark Di Somma
Is there any reason why you wouldn’t defend yourself in the face of an attack on your market share or reputation? None that I can think of off-hand. Because to do so is to simply hand hard-earned loyalty and turnover to someone else on a plate. Nevertheless, faced with a concerted effort to take market share from them, too many brands defy rational behavior and either carry on with business as usual or simply ignore what is going on in front of them.
Here are my five reasons why you shouldn’t behave that way:
It telegraphs weakness or at least vulnerability: Failure to respond decisively and aggressively tells your competitor(s) that you are not in a position, physically or emotionally, to do so. As such, it simply encourages greater activity on their part.
Categories: Business & Policy