Sandeep Singhal spoke on differentiation as a marketing strategy for startups at the TIE-ISB Connect happening in Hyderabad. Here are the points he mentioned.

Sources of Differentiation

The main sources of differentiation for startups which cause a competitive edge:

1) Tech - Patents or New technology that your competition doesn’t have.

2) Process - Process patents or way of doing things is cheaper, better faster.

3) Business Model - A model that changes the game at markets. For example Saas (Software as a service) business

4) Marketing & Marketing communication - Your positioning of your product is key.

How to differentiate?

1) Team - Build the right team! That is if you have figured out that technology is where you want to differentiate your offering then hire the best technology people in your company and surround yourself with the best talent.

2) Market - Develop a deep understanding of the target market. Your perception of your business doesn’t matter as much as the market perception and needs.

3) Execute - In the end execution is the biggest differentiator. Execute flawlessly which ever differentator you choose be it tech, process business model or marketing.

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