Specialties
You are not just competing for consumer dollars with competitors, you are also competing with unrelated competitors. The consumer will choose between food and clothing as an example, so as a restaurant, you could be competing with a pair of Louboutin shoes! The consumer will go out to dinner and put off buying a pair of shoes if the incentive is good enough and the experience is equally as rewarding. The implication for this in marketing is that consumers need to be convinced that your brand is the best in the market and your brand is the best bargain for their hard earned dollars. Changing perception and the buyer's priority is therefore an important factor in successful marketing