Competition in business

[skyliequiz]

It is not only an issue of pricing that determines competition. In reality, this means more product variety and the introduction of new services. Companies are encouraged to advertise their products and stand out by focusing on innovation or quality of service, or by targeting new consumer categories, as a result of the pressure placed by their competitors.

 

[GIFTMICHAEL]

Competition is normal, i don't feel any pressure when i see 1-2 people doing same business with me. It even motivate me to be innovative and working hard to always stay on top.

 

[Ralphjoe]

In business, the competition is nominal. Every businessman wants his business to be above the other, so he makes a good product.His name is Ho Ho Ho bought his product all and he made maximum profit what he does his business in this way in management minutes is his business go up

This is the reason why if anyone want to set up a business or she must put into consideration the fact that there is going to be competition in that business because once anyone start up a real business someone else might also want to start up that same business too thereby driving competition for that business.

 

[Setfragil]

Competition is normal, i don't feel any pressure when i see 1-2 people doing same business with me. It even motivate me to be innovative and working hard to always stay on top.

I agree with you. There is no way that you will do a business without having to deal with business competitors. Competition makes you to be innovative in coming up with new ways of solving markets problems.

 

[Alexandoy]

It is not only an issue of pricing that determines competition. In reality, this means more product variety and the introduction of new services. Companies are encouraged to advertise their products and stand out by focusing on innovation or quality of service, or by targeting new consumer categories, as a result of the pressure placed by their competitors.

That is true. I have noticed one small convenience store here that has so many customers even if the price is not considerate sometimes. But the reason of the customers is the big variety of goods that the store sells. A nearby store with the regular discounts do not get much customers.

 

[Jlife]

Competition is normal, i don't feel any pressure when i see 1-2 people doing same business with me. It even motivate me to be innovative and working hard to always stay on top.

You shouldn't feel pressure yes that's true, if there is so much competition you needs to provide or invent your own marketing strategy to make sure that you are always ahead of your competitors in one way or the other.

 

[GIFTMICHAEL]

You shouldn't feel pressure yes that's true, if there is so much competition you needs to provide or invent your own marketing strategy to make sure that you are always ahead of your competitors in one way or the other.

Their is no need to feel the heat if you are innovative minded entrepreneur. Only those ones who doesn't know about their potential can feel the pressure winning over competitors.

 

[Snazzy001]

If competition had not existed in business, most people would be over relaxed and we find it hard to put seriousness into work

 

[Jlife]

Their is no need to feel the heat if you are innovative minded entrepreneur. Only those ones who doesn't know about their potential can feel the pressure winning over competitors.

Sometimes it could be difficult but what if your competitor offer a very low price that if you do the same you will be at Lost, how are you going to go about this, this is always the most challenging.

 

[Snazzy001]

Competition is a very normal thing in business because everybody is trying to survive and trying to find a means of living, so we all have to put our best in whatever we do

 

[GIFTMICHAEL]

Sometimes it could be difficult but what if your competitor offer a very low price that if you do the same you will be at Lost, how are you going to go about this, this is always the most challenging.

Very challenging indeed, you shouldn't try to outsmart your competitor to win over customers acrimoniously. We should always deal on quality, affordable and still do some marketing via social media to convince more people about your products, and stsrt delivering it to their various destinations.

 

[Jlife]

Very challenging indeed, you shouldn't try to outsmart your competitor to win over customers acrimoniously. We should always deal on quality, affordable and still do some marketing via social media to convince more people about your products, and stsrt delivering it to their various destinations.

Okay in this case that means we really need to improve the quality of Our product if they are reducing the price of their products, we also have to do our own marketing in different way to attract customers.

 

[GIFTMICHAEL]

Okay in this case that means we really need to improve the quality of Our product if they are reducing the price of their products, we also have to do our own marketing in different way to attract customers.

Sure, we need to do our own marketing. We must not reduce ours like them when they are selling below cost price we should sell normal but have that enormous marketing skill to sweet mouth customers.

 

[Jlife]

Sure, we need to do our own marketing. We must not reduce ours like them when they are selling below cost price we should sell normal but have that enormous marketing skill to sweet mouth customers.

That means there are a lot of ways we can do marketing without directly copying what our competition is doing ,if they're doing it in one way there are numerous way we can do our own marketing to attract our prospective consumers.

 

[akinlolu99]

Competition in business in business is very very good but we need to make it know that it's not about the competition but about healthy competition because some people competition to a whole new different level but healthy competition is good because it help businessmen and women get creative and that makes them look for better ways to better there services over there another colleague in the same business.

 

[Setho]

As a business person selling in a parallel market you are always bound to face some kind of competition so it is always important that you learn from them and help him corporate it into your business.

 

[Good-Person]

We all know there can be great rivalry in business. Different companies selling the same product or offering same services. As a person starting up a small scale business in which there are big scale business already in the market, what can be told to be able to win customers to my business. Or do you think I should find another niche of business?

Competition in business becomes tougher when a lot of companies sell a similar product. I remember there was a time when there was no competition in business when it comes to mineral water company because mineral water was not so much famous in our city. People used to boil water and drink water.

 

[eLdavis]

Competition is allowed in the business when it get to taken life if each other is good and not advisable. We can competes with each other in order to bring out best from the products we are producing. The competition is allowed to compare the products and to get best we can lay our hand on to buy. It can allowed us to get the best raw materials once they know u are doing best product in town currently.

Like they say, there are two kinds or types of competition, these are healthy or non healthy competition. The healthy ones are the type that brings out the best results in the end why the unhealthy one usually ends up destroying things

 

[God's Own]

Competition among competitors have become a major issue on ground but I think a person should be on the side on doing what he knows how to do best instead of going into competition with someone that is above or below you.

 

[Ceeny007]

You could form a cartel and set price ceiling and price floor