To add to my discussions with you about creating your own path, and doing that means you don’t copy what your competitors are doing by playing what I call a zero sum game.
Once you create a winning formula, because you have your own strategy, you are putting in place a barrier to imitation. Porter describes this as the following:
“barriers to imitation: The hurdles facing a rival within an industry who tries to move from one positioning to another in order to copy another company’s strategy. Barriers to imitation slow the process of competitive convergence.”
Competitors will find it difficult to copy your strategy because it will often have economic consequences for them. Offering extra services for example, you need resources and skills. This takes time to build. And money. And it could also conflict with the competitors own strategy.
Excerpt From: Joan, Magretta. “Understanding Michael Porter.” Perseus Books Group, 2011-11-21T14:00:00+00:00.