There are several perceptual mistakes a company can make. If a product is objectively the best in its class but customer perception still places it behind a competitor s product that in entrenched or heavily advertised, it will remain behind the competition in the customers eye. The company needs to see this and decide whether it should devote the resources and time necessary to compete or whether it can direct them more profitably elsewhere. When a company knows where it stands with the market and the competition, it can begin to sharpen the focus and maximize its present value. It can accentuate the positive, build up areas of strength and eliminate whatever is pushing it off balance or wasting its resources.
Improvement is an ongoing process and won t happen overnight.
The end result should be a company that will solidify and increase its value over the long haul.