MANAGEMENT TIPS
WHEN A COMPETITOR COPIES YOUR P RODUCT In the AI era, it’s becoming easier than ever for companies to mimic or clone successful products. While your first—and correct—instinct may be to take legal action, take a moment to recognize that imitation can also present a strategic opportunity. It can reveal what customers value about your offering and where your competitive advantage lies. Confront imitation on your own terms. Find out why customers are choosing a dupe instead of your product. Is it the price, convenience, or perceived quality? Give those customers a chance to experience your offering first-hand. Pay attention to which differences they notice and are willing to pay for. Consider creating your own alternative. If imitators are attracting customers who can’t afford your product, consider offering a lower-priced version yourself. Make sure it delivers genuine value while preserving the advantages of your premium offering. This can help you reach new custome...
