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Mark Brown wrote:
<<i belive that this new product will be produced with the same motto
that traderware had which was " to build a product that will do
everything tradestation will do - but more and better". if this motto
is followed and i have EVERY reason to assume that it will be. it
will be the kill all product. if it lives up to expectations i
have every plan to be the first customer.>>
Business Strategy:
Actually I don't think that trying to be just like product X is a viable
business strategy when you have an upstart company attempting to take market
share away from an entrenched market leader. This was the basic strategy of
TraderWare and it wasn't successful. For a product to succeed it needs merit
above and beyond what other products on the market have. It needs that
special something (differentiation) that sets it apart from the competition.
The easiest way for a startup product to succeed in a market with a well
established product with more marketing muscle is to make their product a
niche product (that doesn't compete directly) and then gradually move into
the other guy's market (similar to how many of the early Japanese auto
makers built for the neglected small car/truck market, built market share
and then moved into the midsize and luxury sedan market.)
I would argue that from a marketing perspective that one reason TraderWare
failed to penetrate the trading software market is that it failed to
successfully differentiate itself from TradeStation and never created the
burning need for consumers to buy.
My $.02
Patrick White
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