{"id":3500,"date":"2018-07-19T10:00:53","date_gmt":"2018-07-19T17:00:53","guid":{"rendered":"https:\/\/berkonomics.com\/?p=3500"},"modified":"2018-07-14T12:42:03","modified_gmt":"2018-07-14T19:42:03","slug":"faster-is-sometimes-more-valuable-than-better-2","status":"publish","type":"post","link":"https:\/\/berkonomics.com\/?p=3500","title":{"rendered":"Faster is sometimes more valuable than better."},"content":{"rendered":"

And d<\/em><\/strong>oing both well usually wins the day.<\/em><\/strong><\/p>\n

This is one of those arguable insights, where both sides win.\u00a0 Dell is a great example of emphasis upon fast, creating a customized computer in 48 hours or less, bringing in assemblies and components just-in-time to make the assembly line.\u00a0 However, if Dell quality were poor and returns high, the company surely would not have survived on speed of response alone.\u00a0 If someone were to ask, \u201cWhat is the secret sauce, Michael Dell?\u201d\u00a0 Dell\u2019s response would be something like \u201cQuality custom computers more quickly than the competition.\u201d\u00a0 And in this company example, both quality and speed are the critical factors in competitive advantage.<\/p>\n

More examples of fast above better<\/strong><\/p>\n

Think of McDonalds.\u00a0 Its reputation is based upon fast food in a minute, with quality that\"\" is acceptable but not discernibly above the competition.\u00a0 Or one of the instant auto service companies where an oil change is fast and inexpensive, but the number of inspection points far fewer than at a dealer location.\u00a0 Speed above quality.<\/p>\n

We have become a society not used to paying even a little extra for speed, but willing to pay much more for quality.\u00a0 How about the $14 hamburger at a restaurant, compared to fast food?\u00a0 We pay for the quality of product and service, happily defining our own tolerance for cost versus quality and speed.<\/p>\n

An important decision for you<\/strong><\/p>\n

[Email readers, continue here…]\u00a0 \u00a0<\/em>\u00a0S<\/span>o, in planning for your niche to defend, one of the first decisions is between quality and speed. We will soon examine the entire gamut of pricing structures in future weeks, but let\u2019s start with this one.\u00a0 It is fair to repeat that quality and speed together<\/em> are the winners in this contest, not one alone.<\/p>\n

Questions for your management team<\/strong><\/p>\n

Which will you want to accent for your competitive advantage? \u00a0How will your customers react to your positioning? \u00a0Will you make more in revenues and profits with one against the other? \u00a0Where is your competitive landscape? \u00a0Is there a more aggressive competitor in one (speed) as opposed to the other (quality)? \u00a0Can you \u201cknock off\u201d the competition in one of these areas more easily than the other? \u00a0\u00a0There are great questions for your next strategic planning session or board meeting. \u00a0Try them.<\/p>\n","protected":false},"excerpt":{"rendered":"

And doing both well usually wins the day. This is one of those arguable insights, where both sides win.\u00a0 Dell is a great example of emphasis upon fast, creating a customized computer in 48 hours or less, bringing in assemblies … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[6,11,12],"tags":[],"class_list":["post-3500","post","type-post","status-publish","format-standard","hentry","category-finding-your-ideal-niche","category-growth","category-positioning"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/posts\/3500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/berkonomics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3500"}],"version-history":[{"count":0,"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/posts\/3500\/revisions"}],"wp:attachment":[{"href":"https:\/\/berkonomics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/berkonomics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/berkonomics.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}