Here is a key message for today. When you seek to offer a product or service, don’t seek to offer what your competition does. Copying them does not make you a leader. It only increases your costs. Let me provide you with an example that everyone can relate to. My father in law decided to buy a high chair for this grandchildren for when they visit. He went to all the big box stores, and found deluxe high chairs that all had similar finishes and features. But he did not want all those features. He wanted a basic high chair to help feed his grandchildren. So, he went searching for a low cost solution. He ended up buying a basic, plastic high chair that was half the price of other chairs. It suited his needs well. He purchased the high chair and has never looked back.
So what is the point of this? Businesses often over engineer their products when the customer does not want, and does not need the additional features. Offer what the customer needs, without the frills and you will attract a market.