A reader might ask the question, that why do business owners adopt a Me too marketing strategy? Why don’t businesses always start with their own unique products? There are several reasons to adopt a me too strategy.
1) Using another company’s brand equity – Me too marketing is a sure shot way to come up in the business world because you already have another company’s brand equity to use. The company has done the hard work of bringing in the product, and by imitating it, you can also rise up to fame.
2) Penetrating the market is easier – It is a market follower strategy, in which the company waits for a good product to come in the market. Then, once it finds a product which has good potential, the company starts manufacturing a similar product. Thus it brings down the skimming price.
3) Me too marketing is good for consumers – It is always good for consumers when there is more competition in the market. More competition means that the companies are on their toes and none of them is relaxed. Each of them knows that if they do not cater to the customer, the competition will.
4) It is good for the market too – By creating more products in the same niche, there is more opportunity for growth, more taxes generated for the nation, and more employment opportunities for job seekers. Thus, me too marketing is good for the market too.
Me too marketing is on the rise because manufacturing technology is very much upgraded today and is available at low cost. China as a nation has risen because of me too marketing. China has always given products at very low cost which is because it manufactures me too products in bulk and enjoys economies of scale. Thus, me too marketing is on the rise.