Why it might
be your best tactic
for beating the
competition!
www.helenattrill.com.au
IMITATION
Read more at
Cherry pick & imitate
www.helenattrill.com.au
Why imitate rather than
innovate in small business?
reduces your risk exposure
you have limited internal
capacity to innovate
there are limited funds to
undertake R&D
you're time poor
or have competing priorities
there are high cost to enter
a new market
marketing new product is too
onerousRead more at
Imitate the Competition
www.helenattrill.com.au
Making your life easy
no legislative or regulatory
restrictions
customer interest and
encouragement
no entry barriers to the market
limit costs to educate consumer on
the product or offering
learn from the mistakes of others
Read more at
Approaches to imitation
www.helenattrill.com.au
Options for small business
copy-cat - replicate exactly and
compete on price or non price
value
repackage or re-bundle
improve the original
develop a viable alternative
solving the original problem
personalise to your market
present in a different or related
lateral market
simplify to achieve cost advantage
Read more at
Exceeding the original
www.helenattrill.com.au
Focus on 3 key goals tosucceed in imitation
building a better offer rather
than being cheaper
increase revenue before reducing
costs
do everything to achieve the
above
Ref: Deloittes
Read more at
A word of caution
www.helenattrill.com.au
Consider the downsides
repeated imitation may dull your
own creativity and innovation
you might not be imitating a
'winner'
you might be missing key facts -
you don't have access to the
innovator's business intelligence
you don't build your own culture
of ideas generation for your
future
Read more at