Competition Is Healthy…But Only for Company's That Are Prepared

December 8, 2008

Let’s face it. If you are charging a higher price for an inferior product or service, the only way you’ll get a chokehold on the market is if consumers are unaware of the existence of your competitors. Why buy a plastic knife for $10 if you can get a brand new steak knife for $5? Well, if you aren’t aware of the steak knife then the plastic knife looks like a contender. Company’s sometimes don’t understand that competition is healthy for their success, because without competition, such company’s would get way too lazy to innovate and lose out on a lot of precious R&D opportunities or marketing opportunities. This notion is kind of like what is known in the economics world as “X-inefficiency”, which is basically the inefficiency that monopolies face due to the lack of motivation that would otherwise stem from the presence of competition. People don’t usually run unless they are being chased, the same can be said (analogously) for company’s. In the online world of police test preparation and career training , there are only a few company’s that hold an oligopoly on the Canadian market, but there still exists a sense of laziness and comfort amongst them. Things have been working out well in the past for them, so they casually go about updating their training resources and practice tests with no particular sense of urgency. Mistake number one! As long as the market environment changes, your company has to keep up with it in order to properly satisfy the changing demands of your target market. This is extremely urgent if you want to remain market leader in your industry. Some company’s are expanding into different regions or country’s, which is awesome and can drive up profits, but are they losing focus on the markets they are leaving behind in their quest for market expansion abroad? maybe. That could potentially be mistake number two! Police Ready is a brand new police training system that is completely customer-oriented. Sure it’s not internationally known (yet), but it delivers non-stop value to its users. Value is everything when company’s are in competition with others, because all said and done, value is what you’re delivering to your customers in the end. And value is what customers look for when deciding between your training program and that of your competitors. Value can be derived from various things, but it usually comes in combinations. Our combination will remain a secret because it is a recipe that maximizes value for our target market, but here’s a little hint on what our killer combo is comprised of; what do you get when you offer superior, comprehensive police prep materials in a profoundly simple web-app, all at a dramatically low cost compared to better known competitors? It’s called Police Ready 🙂