- PRICING STRATEGY: PRICE SKIMMING!
- PRICING STRATEGY: GIVING YOUR PRODUCT/SERVICE FOR FREE
- SHOULD WE COMPARE OURSELVES?
- WHAT SHOULD WE MEASURE WHEN WE EVALUATE OUR MARKETING EFFORTS?
- WHAT IS THE VALUE OF A CUSTOMER?
- DOES CONTENT MARKETING WORK?
- WHAT IS THE DIFFERENCE BETWEEN A BRAND, BRANDING, A PERSONAL BRAND AND A COMPANY/PRODUCT NAME?
- WHAT IS GROWTH HACKING?
- HOW MANY « P » CAN BE FOUND IN THE MARKETING MIX?
- THE CUSTOMER VALUE CHAIN
- HOW CAN YOU PROTECT YOUR UNIQUE PRODUCT OR SERVICE?
- CONFERENCE ON FINANCING - MAY 2, 2017
- WHAT IS DRIP PRICING?
- WHICH AMOUNT SHOULD YOU CHOOSE FOR YOUR PRICES?
- DETERMINING YOUR HOURLY RATE BASED ON THE VALUE YOU THINK YOU HAVE
- IS LOWERING YOUR PRICES A GOOD IDEA?
- TO OFFER OR NOT TO OFFER FINANCING?
- HOW TO PROTECT YOURSELF AGAINST EXCHANGE RATE RISKS
- WHEN IS A GOOD TIME TO INCREASE YOUR PRICES?
- DEMAND BASED PRICING
- WHAT IS A LOSS LEADER?
- HOW TO ORGANIZE A DRAW THE RIGHT WAY?
- HOW TO HAVE REMOTE EMPLOYEES
- IS IT GOOD TO BE FIRST IN A MARKET?
- THE THREE TYPES OF CUSTOMERS
- EXPORTING TO MEXICO - QUERETARO REGION
- DEFINING BUSINESS SUCCESS
- ARE YOU USING REBATES? WATCH OUT FOR THESE
- IS THE CUSTOMER ALWAYS RIGHT?
- EXPORTS AND QUEBEC COMPANIES
- COWORKING SPACES
- YOUR PLACE OF BUSINESS AND INTERNET
- WHY IS SOCIAL MEDIA IMPORTANT FOR YOUR BUSINESS?
- HOW TO USE FREEBIES
- WHAT IS THE MAGICAL FORMULA FOR HAVING SUCCESS IN BUSINESS?
- DO YOU HAVE EXPERIENCE IN MY FIELD?
- WHEN CAN WE STOP OUR MARKETING?
- WHAT IS A CALL TO ACTION?
- WE ARE ALL SALESPEOPLE; HERE'S HOW TO GET THERE
- HOW CAN MARKETING AND SALES COLLABORATE?
- HOW TO SELL MORE TO YOUR EXISTING CLIENTS
- WHAT IS CROSS-MARKETING?
- WHY SHOULD I SEGMENT?
- WHO IS RESPONSIBLE FOR MANAGING YOUR COMPANY'S IMAGE?
- HOW TO CHARGE FOR YOUR PRODUCTS / SERVICES?
- HOW TO DEFINE YOUR PRICING STRATEGY: PRICE POSITIONING
- HOW TO DEFINE YOUR PRICING STRATEGY: MARKET PRICING
- WHAT PRICE SHOULD YOU SELL AT? - COST-BASED PRICING
- WHAT IS A PRODUCT?
- HOW TO MARKET YOUR NEW BUSINESS?
- IS BUYING A FRANCHISE A GOOD WAY TO START A BUSINESS?
- HOW SOCIAL MEDIA HAS CHANGED WORD-OF-MOUTH
- HOW SOCIAL MEDIA HAS CHANGED PUBLIC RELATIONS
- WHAT IS BRANDING?
- WHY INCREASING SALES IS NOT THE SOLUTION
- HOW TO SELECT YOUR COMPANY NAME?
- WHY HAVING A WEBSITE IS ONLY THE BEGINNING?
- WHAT IS MARKETING?
- HOW TO MAXIMIZE THE VALUE OF YOUR SOLE PROPRIETORSHIP BUSINESS
- WHY SELLING IN MEXICO?
- LOW COST MARKETING INITIATIVES
- WHY IS PRODUCT DIFFERENCIATION IMPORTANT?
- hOW TO PRESENT OUR COMPANY
- WHAT IS THE DIFFERENCE BETWEEN MARKETING AND PUBLICITY?
- 50% OF YOUR ADVERTISING BUDGET DOES NOT PRODUCE AS MUCH AS THE REST
- RIGHT SELL AND OVER DELIVER
HOW CAN YOU PROTECT YOUR UNIQUE PRODUCT OR SERVICE?
If your company has an innovative product or service, what can you do to protect it?
Of course, filing a patent is important and may offer protection in certain circumstances.
To do this, working with a patent attorney is a great idea, in addition to doing your own research. Although a patent may allow you to fight if a business is infringing on your patent, the reality is that it can be a very expensive game. And if the offending company has financial resources that are far superior to yours, then we are talking about David vs. Goliath.
A patent expert would be able to give you a much more nuanced view of the situation, with more detail.
But this does not prevent you from doing some of the following marketing actions that may offer additional protection on your product or service.
In the development of your product or service, plan updates, changes or improvements, so that if the product or service is copied, the old version is copied, not the future one. Software companies are an excellent example of using this tactic.
Develop a community. Whether for support, exchanging ideas, or encouragement or performance, online training applications are a good example. So, when people buy a product or service, they are not just buying an item, rather they are buying into a network that both the company and the customers can benefit from.
Develop an association with a complementary company. An example could be an association between a company that offers fitness courses and a company that sells home gym equipment. There is a good alignment; one manufactures the equipment and the other shows people how to use them. In addition, the two companies share the same customers and each stands out: the equipment manufacturer is distinct from other equipment manufacturers since it offers a plus: courses on how to use the machines.
Offer unparallelled support and customer service. The reality is that many of the copied products will be duplicated by companies from the other side of the Atlantic. Often they will only sell the product. Increase the value of your product with an exceptional warranty and 24/7 support. For some buyers, these offerings can get them to stay with you instead of jumping to less expensive competitors.
Develop a strong brand. Of course, this aspect takes time, effort, resources and energy, but it is one of the best protections against being copied. Think of Apple, Levis, Nike, MailChimp, etc. They are not the only ones in their respective markets, but they are often at the top of the list when it comes to thinking about the products they make.
Can these actions replace researching and filing for a patent? No. But one does not exclude the other. Take some of these actions in addition to filing your patent and you will be well protected.
Stéphane Elmaleh-Riel, B.Ed., MBA