We all learn in Marketing 101 that competition can be direct or indirect. Most companies focus almost exclusively on direct competitors until they have to wake up to their indirect competitors … usually late. The beer industry is there now.
According to an article in Advertising Age, MillerCoors CEO Tom Long told a large audience of beer industry members that “”The days of beer guys knocking each other around and not worrying too much about spirits and wine is over, and it’s frankly been over for a long time.” Our team member, Barney Barnett, who works extensively in the wine industry, has been telling us this for several years.
Growing the share of the beer industry is not the purview of any single company because nobody is dominant. So the industry needs to step up to the task or they all suffer.
Are you failing to recognize indirect competitors and the inroads they may be making? It doesn’t just happen in high-tech.