Learn From a Successful Business: the case of Audi versus Mercedes
👉As an entrepreneur you need to learn the ropes from businesses that are already where you are aiming to be.
You don’t have to make all the mistakes or taste all the waters to go up; to learn and to be better sometimes all you need do is engage in intensive study of other businesses and model yours after the successful ones.
Tony Robbins said “the surest way to achieve success is to model someone who is already successful”
If you’re in business and you want to see results quickly, one of the ways to do that is to model your business after an already successful one. This doesn’t mean you should be a copy cat, no! just learn the difference between what they’re doing and what you’re doing:
👉 Learn how they market their products.
This is important, I remember the only paint I knew when I was growing up was Saclux paint because of the aggressive way they marketed their products. It was on the T.V every now and then such that I learnt their songs “saclux paint okacha nma, saclux paint o kacha nma..😁” .
Also every tank is ‘geepee’ tank to me(give your examples in the comment section). Don’t underestimate marketing (We will talk about this in another post)
👉 Know what interests their buyers
👉 Know the content of their products as against yours.
Study your competition, see what they are doing that you’re not doing and find a way to do it better. This would not only advance your business but would give you a selling point that would translate to better sales for you.
Look at the case of India. Mercedes was the dominating car in India, this was equally the case in Nigeria. Mercedes was regarded as strong and reliable. So when Audi launched their car they were looking to overtake Mercedes but this didn’t happen and they needed to know why, so they decided to study Mercedes.
They bought a Mercedes and ripped it up to see what the car had that theirs didn’t have. Having done that they went ahead to produce an entry SUV car, something that Mercedes was yet to do.
They produced their cars in more youthful and vibrant colours.
From studying their competition Audi learnt just as we all know that Mercedes is regarded as ‘old people’s car’ and thus associated their car with a more young and vibrant population. They made celebrities and sports stars their brand ambassadors. They equally awarded cars to sports stars.
They introduced a payment plan that spanned within a period of 80mnths against the usual 60 months which Mercedes operated.
Audi also realised that buyers are more interested in costs than anyother thing and made their car a little cheaper than Mercedes and that friends was the game changer.
Today Audi sales has topped that of Mercedes and they have remained ontop for over six years now in India.
The mistake Mercedes made was not destroying the ‘old people’s car’ narrative that surrounded their product. Now I guess it’s their turn to learn from Audi if they’re ever going to reclaim their position at the top in India market and in Nigeria as well. 😉
If we’re observant I think we can all agree that they equally need to step up their game in Nigeria.
👉 So as an entrepreneur you save yourself a lot by studying a business, it gives you an edge with better results as well. So your job is not to fight or go aggressive against your competitors, simply observe, study and learn.
Aristophanes said “the wise learn many things from their enemies”
See you at the top!
Creative Writing Coach