Today returning from Ljubljana, (capital city on Slovenia), I was listening to some podcasts. Like always I was my imagination working full and creating new ideas. None of them very good yet...
But something I think is a really good new is something I've listened about a small company threatened by a big one. The real story plus some salt and pepper (from my side) is something like that
" There was a very small town in the center of a small country where people used to go to buy some nice cloth in a small and warm boutique. Development started on the town and big firms hungry for new markets started building their big malls.
The small boutique was unable to compete with prices and with the amount of products offered by the competition. The owner started thinking on closing the store..."
I also hear that the "problem" is the mother of "creativity".
"... But suddenly one idea came to life and the owner said: If I can't compete with those low prices then I have to offer big prices. After that she closed the store but she offered an exclusive service that was bringing to the customer's home their complete collection and a fashion advisor. The owner of the company and their team of professionals lived happy ever after!"
So what we can learn is that the difference is not in the price... Is in the value added and the target group. Both components should be dynamic as the needs of the market are.