How to Compete with Big Companies

[Kane]

For small and medium businesses, it might not be possible to create unique products as they do not have enough funds for product development. Therefore, they might not be able to compete with big companies through a monopoly or duopoly strategy. Instead, they should focus on producing similar products as big companies but with better quality and unique selling propositions. Small businesses should also offer personalized marketing strategies, and striving to stay competitive.