When someone buys a BMW today the one thing they can be sure of is that it will g built to perfection, and BMW found a shortcut to make them think this way.
Mercedes-Benz offers high-performance luxury cars, but they’re not cheap so how could they compete with the Ferraris, Aston Martins, and Jaguars of the world?
They knew those sports cars weren’t the most comfortable to drive, so they focused on comfort as a critical differentiator to set them apart.
13. Louis Vuitton:
There are so many fashion brands in the world; it’s impossible to know about them all, but most people have heard of Louis Vuitton.
Not only did they set themselves apart by charging high prices, but they also have a signature design seen on handbags and many other products. Their branding means they’re now top-of-mind when anyone thinks of high fashion.
If you order something from Amazon you know it’s going to arrive at your door within days, and they’ve used their streamlined warehouses to start Fulfilment by Amazon.
PayPal created a billion-dollar business by building something on top of an existing marketplace, and as you know, the financial industry is very lucrative.
Visa did the same thing when they were building their brand, although they managed to do it almost 60 years earlier, and they are now one of the most trusted brands in the industry.
Instant coffee was being sold before Nescafe came along, but it was still swift to the party. It didn’t catch a lucky break by building a new industry from scratch, but it jumped on a trend while creating a better product at the same time.
Their advanced coffee refining process introduced in 1938 was so popular because it tasted better than what was available.
New homeowners can walk into IKEA and buy all the furniture they need to decorate their home because the company found a way to offer their products for the lowest price possible.
Nestle is the biggest food company in the world, and the reason they’re so successful could be seen in the products they offer. To put it simply, they paid close attention to their customers and gave them exactly what they wanted.
They appeal to the masses by providing them with all the food-related products they need, and they make sure the quality is always excellent.
If you’re a coffee-lover, you’ve probably drunk at Starbucks, yet even if you haven’t; you can’t deny it’s one of the most influential brands in the world.
Their success came because they saw an opportunity in the industry and saturated the market. It’s hard to ignore Starbucks now due to its coffee shops almost everywhere in the world.
Some of the fashion retailers offering cheap clothes compared to brands like Louis Vuitton sell almost identical products because they know there will always be a market for people with less money who want to keep up with current trends.
Zara has built its brand around being able to bring these clothes to market quicker than anyone else.