Car and Driver wrote a very interesting article recently (via Road & Track) about the proliferation of 'crossover' vehicles in the market and specifically, crappy ones. Automakers so quickly responded to consumer demand for an enlarged station wagon that "considerations as varied as styling, performance, efficiency, and handling have been overlooked." In their opinion (and they would know) these products weren't well built, they were quickly built.
This begs the question: is it good or bad for your brand to launch a 'me too' product to capitalize on escalating demand if the product will be made too hastily and as a result, quite poorly?
Toyota is credited with starting this 'sport cute' trend with its popular RAV4 crossover. They are the real geniuses in this discussion because they identified the market need and created the first product to fulfil it. Others scrambled to keep up with the trend at the expense of product quality, which did some level of damage to their brand image. On the flip side, of course, is the brand damage that would have been done if an automaker forewent the timely introduction of a competitive product in the interest of perfecting it first.
Which is better? Launching an inferior, 'me too' product to merely keep up with competitors' offerings? Or, instead, dedicating resources to identifying the next market need and creating a product for that?
LESSON FOR MARKETERS
Think about your industry and your own product lineup. Are you in catch-up mode? Or are you in a market leadership position?
We know what the automakers ended up doing. Would you have done the same thing?
This blog is written by Glenn Cressman, Share Of Marketing's founder and Chief Share Builder (bio). It covers all things marketing. Feel free to comment!