As CEOs seek to differentiate their brand to have competitive advantage, a great lesson can be learned from my conversation with Eggland’s Best CEO, Charlie Lanktree. As background, Eggland’s Best has by far the largest market share of any egg company, has almost two decades of consecutive double digit financial growth, and has won practically every award on nutrition and taste. Charlie’s answer sums up how Eggland’s Best has accomplished this and also opens the secret door for differentiation, which CEOs like Steve Jobs frequently used. Charlie told me, “The way we changed the egg and made a better egg is by changing what we feed our chickens. For example, we feed our chickens sea kelp. So there’s no animal fat or animal by-products. That’s one reason our eggs taste better and are more nutritious and are frankly just better eggs. And we keep improving making the best even better.”
If changing what’s inside can be done with the ultimate commodity — the egg — imagine how you can differentiate your brand!