Love your competitors

Newton's Third law of motion

• To every action there is always opposed an equal reaction; or, the mutual actions of two bodies upon each other are always equal, and directed to contrary parts.- Newton's Third Law of Motion, translated from the Principia's Latin

So, in plain words, it means every action there is an equal reaction. Simple.

In marketing sense, try not to launch direct offensives at your competitors, as it will spark a row of offensives from your competitors to you. Now you ask, why not eliminate competition altogether? Let me tell you why.

1. Competition is healthy - Competition keeps you busy, keeps you on your toes and always makes you want to innovate to make your product more remarkable and fascinating, which customers are willing to fork out more money because your product is that good
2. It keeps the customers coming to you - Why you ask. Because with competition, people can compare your products are your competitors. How can people know that your products are better than your competitors if they have nothing to compare with? So, to ensure your customers are loyal, you have to give them a superb product. Win-win situation
3. Creates a marketplace - When there are competitors around you, it creates a buzz that attracts people - potential customers to you and your competitors alike. Without competition, it would be too quiet and there will be not enough customers. It is a healthy situation, you have healthy competition, it creats a steady stream of customers to choose from you or your competitors and you are always ready to give a more remarkable product
4. Helps to build YOUR niche market - Well, after all the buzz you and your competitors have created, some customers will stay loyal to you. From this data, you will find out which are your core strengths that you should build on. Then, you further innovate on your unique core strengths and then you realise you have a steady following. You have just created a niche market for yourself. Therefore, you can be rest assured your competitors can't steal your customers from you as you have a product that your niche customers need. It's quality over quantity. You do not alway have to have the most marketshare, because a niche market can generate more sales for you. Example, again the Rolex example. Rolex is a very niche market. Customers are willing to pay a premium for the products. Higher price, guaranteed sales, it's already doing half the marketing work for you

In a nutshell, your competitors are not your enemies. Embrace them with open arms.