Excerpt from Chapter 6 – “EXTERNAL MARKET FACTORS”Published December 20, 2017
The prospect of doing homework that involves number crunching
and analysis might seem both unpleasant and daunting. But make no
mistake about it, as you, your company, and its brand strive to move up
the food chain, all that tedious homework can turn you into a killer
within your category. And, a killer is exactly what you must become
when you go after the big fish.
The big fish in your world are all members of Big Food, and they
are the apex predators in the food chain of both the food industry in
general and your product category in particular. Everyone knows who
they are, and it’s always a good idea to keep an eye on what they are up
to. However, for most local, small, or regional companies such as yours,
moving up the food chain is an incremental process that includes a
series of small victories over vulnerable opponents. For you, it may
mean identifying the weakest competitor in your category, displacing
them, and then locating your next prey.