If your business model is selling on price, chances are it’s doomed.
Competing on price is often called a “race to the bottom.” Today, buyers consider features and benefits to be equal… he said – she said.
Consider ethical and sustainable business practices that are dramatically changing global business practice. The movement started 30 years ago with environmental practices then evolved to include social responsibility themes into a complete sustainability model.
It’s being driven by social media and is quickly accelerating upstream through the mining supply chain.
Check mining corporation annual statements; they talk increasingly about environment and social responsibility plans and programs. They create annual goals and measure their compliance with institutions such as the Global Reporting Initiative. Align your plans with theirs if you want to get noticed.
It’s called thought leadership and will help you to be recognized as a good business partner and avoid the price war game.