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This strategy is used all the time in our industry. Everyone copies competitors, but the idea of Imitative Strategies is to copy and improve. Not only does McDonald’s copy Starbucks, they even copied their advertising. See the similarities?
Although there are two chapters to read, the assigned readings are short and relatively easy. We will move from Positioning Strategies to Product Strategies in Module 4. The three principle concepts to understand in this module are Proactive/Reactive Strategies, Branding, plus the Product Life Cycle Strategies.
Did you ever notice that restaurants launch new products and services regularly? Why? Here is a video to get you to start thinking about new products in our industry.