Beating Low Cost Competition: How Premium Brands can respond to Cut-Price Rivals Review

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Beating Low Cost Competition: How Premium Brands can respond to Cut-Price Rivals ReviewAdrian Ryans is a Professor at IMD, the globally top ranked Swiss business school. He did his PhD at Stanford, and has worked as a consultant to a large number of high-tech and manufacturing companies. Many of these businesses are either developed world companies with emerging market operations or are facing emerging market threats to their established products.
Professor Ryans previously wrote a very well received book on developing new products and growing market share, with a focus on high-tech businesses. Winning Market Leadership : Strategic Market Planning for Technology-Driven Businesses
This book starts from a different perspective: how an established business can analyze and respond to the threat of low cost competitors.
First he leads you through examples of how low cost competition has revolutionized various industries, including retailing, airlines, banking, consumer goods, and high-tech products. Then he explains how and why the threat from low cost competition is increasing over time.
The next step is to understand how low cost competitors do what they do. This is important, because if you can't think like a low cost player, you can't adapt your business to thrive in the face of their assault.
The bulk of the value to me as a rust-belt manager was the framework for assessing the competitive threat and formulating a plan. That plan usually takes one of two broad approaches: face the competition head-on or develop an avoidance strategy to capture high value customers.
Ultimately, the success of the strategy hinges on the leadership team taking the threat seriously. Many executives think that the status quo will continue, but the reality is that most industries have low cost players already entrenched or who are entering the market. If you do nothing, low cost players will expand the market and take most of it for themselves. As a result management needs to have a plan to initiate their own low cost strategy or plan to abandon low end customers and try to lock in the high end of the market, where low cost players will not be able to effectively match your offering.
I use this framework very effectively to respond to competition on established products, and to develop business plans for new low cost product offerings.
If you found this review helpful, select "Yes" so this rating is improved and more readers will get to see it.Beating Low Cost Competition: How Premium Brands can respond to Cut-Price Rivals OverviewLow cost competitors, who offer "good enough" products and services at very attractive prices, are currently significantly impacting the businesses of many leading companies, and some are starting to "move up" to challenge the traditional companies in their core markets. It's only a matter of time before most companies will feel the pressure from these aggressive, cut-price competitors. Beating Low Cost Competition offers a step–by–step structured approach to help executives in traditional companies with premium brands think through the options for responding to their low cost rivals and select the most appropriate strategy to win in their chosen markets.
By examining a wide-ranging group of companies from around the world, Adrian Ryans provides numerous examples of how different companies in different industries have responded to low cost competitors and analyses the effectiveness of their strategies. He also discusses the leadership and cultural challenges that many companies are facing as they take steps to respond to their low cost rivals.
Ultimately, the insights gained from this book will lead to better and more profitable business decisions.

Adrian Ryans is Professor of Marketing and Strategy at IMD, Lausanne, Switzerland. He has designed and taught on executive programs for organizations in North America, Europe, Australia and Asia, including GE, Bank of Montreal, Medtronic, Deloitte, Borealis, Saurer, Vestas, IBM, Boeing, National Semiconductor, BioWare, ASML, Holcim, Varian, Hoechst, Amgen, Fluke, LSI Logic, Hutchison Port Holdings and Qualcomm. He has also acted as a consultant for a number of leading global corporations.

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