“We’re not an iron ore company”
Andrew Forrest, Fortescue Metals Group, as quoted recently in the Financial Review.
So what’s the hidden strategic brand take on this?
They’re moving away from being pigeon-holed as an iron ore company which comes with limitations; to reposition as a leadership and management company – one that just happens to be superb at iron ore.
Positioning or repositioning has revolutionised industries and turned the tables on well-established, unsuspecting markets. Done well, it can be a game-changer.
-> Uber have always maintained they’re a tech company. But they’ve built their stadium in the transport industry, to revolutionise transport through tech.
-> Apple were never just a computer company, they were out to challenge the status quo. Their ‘think different’ approach has reimagined our computers, phones, watches, portable music players etc.
In the case of Fortescue Metals Group who are the ‘third force’ with Rio Tinto and BHP in iron ore, positioning can help move away from, or overtake competitors altogether, by changing up the competitive set in which you play.
The takeaway message….
Build your stadium where it puts you at an immediate advantage and works to your company’s greatest strengths.
Is your company’s positioning as strong as it could be?
Is it working to your advantage, or working against you? Are you competing in the best environment/space/industry/market for your products or services, or are there alternative opportunities that could open up from repositioning? It’s worth thinking about…