Recently, I attended a business conference that was focused on company branding and positioning. If you are unfamiliar with these terms, you can check it out on the Wikipedia entry on Positioning (marketing).
At one of the seminars I attended, the speaker said that when selecting a marketing stance for your company you have the following three options: good, fast, cheap. Of which, you can only pick two.
Makes sense. Or does it?
When I first heard it, it made sense.
If something is good and served fast, it won’t be cheap. If something is good and cheap, it won’t be served fast. If something is served fast and cheap, it won’t be good.
But does it really apply to all companies? What about firms like Taco Bell or Xiaomi? In their respective industries, both offer good quality products; their services are fast; and their products are cheap. Both also happen to be two of my favorite companies.
So it does exist …
Solid systematic processes make it happen. And technology advancement has evolved to a point where every company can be good, fast and cheap.
On my next blog post, I’ll explain why this development is critical for overseas Filipinos to understand and how they can take advantage of it.
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