How will you compete with a well known brand?

[Shigobad20201]

I have five ways in which your small business can compete with a well known brand, by knowing your customer personality, what they wants, pricing competitively (reduce your price to gain more customers), and by taking risks, by capturing contact information.

 

[Yewande]

It is really doing to be to be difficult and will require a lot of sacrifice at the onset. For a start, you will have to do more advertising. A lot. And then you will have to come in with strategy like lower price or higher quantity. Or you bring in a new design.

 

[Kiko]

It can be hard for small businesses to compete with the larger companies in their industry, which is frustrating because you can provide a product or service just as good, but you do not have the resources or reputation for attracting customers. There are areas where a small business holds an advantage over bigger brands, and customer service is the most notable. It can be challenging for a large organization to handle customers, but for a small company, it is easier to manage customer service and to form a bond with your existing customers.

 

[mubinadaddy]

The only way that I knew you can compete with a well known brand is for you to create your own brand more quality and it should be at affordable rate, so that anybody can have access to it and in doing that you will be a serious competitors to the brand and your own brand will standout in a due time.

 

[Kiwi]

Competing with a well known brand is highly demanding. A would rather say don't go into a business with the mind set of competition because frustration will set in. Business thrive when you patiently grow it and real understand what the people need around where you intend doing the business, get quality products and engage in advertisement and good staff.

 

[Noor khan]

One of the hard thing about just starting up is that there are products or a more known brand as your competition. The advantage is on their side but it doesn't mean to give up.

So if you're in this kind of situation, what ways would you do to keep up with the competition?

Let me cite a real story of the beer battle. There is only San Miguel as the brand of local beer until Beerhausen came to our country. People love San Miguel so Beerhausen spent so much in the marketing just to make some sales. But after some years that new beer in town surrendered. That is how difficult to fight an established brand. The fight should no be head-on so that the newcomer would have a fighting chance.

 

[marky]

Allow me to refer to a genuine story of the brew fight. There is just San Miguel as the brand of neighborhood brew until Beerhausen went to our country. Individuals love San Miguel so Beerhausen spent such a huge amount in the showcasing just to make a few deals. However, after certain years that new brew around gave up. That is the means by which hard to battle a set up brand. The battle should no be head-on so the newcomer would have a battling possibility.

 

[redpogi16]

Build personal relationships with customers​

If you’re looking for ways on how to compete with big brands, this has got to be one of the best strategies small businesses use to go about it. Large-scale corporations invest their time and energy into generating a high volume of sales with fairly marginal profits. What they’re typically not doing is providing quality customer service because, to put it bluntly, they don’t have to.



Small companies competing against larger multinationals should use business competition strategies that give them an upper-hand, and building personal relationships with customers is one of the most effective.



Some business owners hold onto the idea that clients are purely rational and simply calculate and compare costs, but that isn’t really the case. People aren’t just looking for the lowest prices, they’re also aiming to spend their money at a place that they genuinely like

 

[WhiteHouse]

Above all else, new brands shouldn't rival popular existing brands on the grounds that those brands have constructed their after for quite a long time and most likely have the financial plan expected to remain on top. What new brands need to do is separate themselves and recounting a decent story consistently does that!

The lone way I've seen new brands succeed is on the grounds that their story, mission, vision or foundation resounds with their intended interest group. It's the potential clients response to your story that will represent the deciding moment your image.

The following thing is to ensure that your image stands apart from your opposition. Try not to go for a similar brand credits like typography, logo style or shadings. You never need to be mistaken for another brand!

Locate that special edge to your brands visuals and pair that with an extraordinary story and you get an opportunity to rival the large brands.

 

[Talibhussain074]

One of the hard thing about just starting up is that there are products or a more known brand as your competition. The advantage is on their side but it doesn't mean to give up.

So if you're in this kind of situation, what ways would you do to keep up with the competition?

It is very difficult to compete are well now brand because people always trust on brand and also trend is very important you can only do it if you promote your product enough that your product will become a trend.

 

[TopSilver]

To compete with a well known brand. You need to provide something that brand cannot or doesn't have. Up your game and create something that's clever and new. Something they aren't able to make. A lot of times, all it takes is buying the right patent and you can win that game easily. The other company won't be able to copy you because you have a patent. Then there's not much they can do.

 

[Folaham]

To compete with a well know brand might be very easy if the incoming company can match the existing one with all his resources.
A case study of Dangote group and Bua group here in nigeria is a good example. In their cement production capacity, Dangote has 3 plants in 3 locations (Benue, Kogi and Ogun) before the coming of Bua. Upon arrival after govt policy to internalize the production of cement, Bua launches his Edo and sokoto branch and brings on board expert in the field some of which have vast experience working with his competitor. To cut the story short, Bua cement was able to first produce quality product that is acceptable and gradually the penetrated and today they are standing toe to toe with Dangote cement.

From above scenario, money come to play in term of size of the incoming company and also the expertise when recruiting the workforce for the new company.

 

[chicnthin]

It is very difficult to compete are well now brand because people always trust on brand and also trend is very important you can only do it if you promote your product enough that your product will become a trend.

I agree that it's gonna be hard to compete with a famous brand. Personally, I usually choose a brand that is well known compared to the newly introduced products in the market, just because the former already has a reputation.

 

[Kingsley]

First you will need to spot their weakness, you should explore all avenues to see their weak spots. And use it as your strength. You need to do some adverts and attract customers with free samples to show them how reliable your products or services are. When you gain the attention of those category of customers they will be the ones promoting your products or services to other customers.

 

[Aniwhyte]

It is very difficult and nearly impossible to compete with a well known brand when it comes to business. In such a scenario what one should do is focus fully on developing his or her brand and I believe someday in the future it would eventually turn out to be a very well known brand.

 

[Sake]

I think it's best to not think about competing with a known brand but just make your own brand known too you can offer your product for the cheaper price that's your only chance.. because if you try to compete with the same price rest assured that consumers are going for the known brand.

 

[tuna89]

Competition in business either online or traditional is very inevitable, do make sure to carry out good market analysis and surveys as regards different products and the buying power, take your adverts online and offline, spy on your competitors once a while to see their activities, ensure great customer services and nice discounts at intervals.

 

[Thosynho]

One of the hard thing about just starting up is that there are products or a more known brand as your competition. The advantage is on their side but it doesn't mean to give up.

So if you're in this kind of situation, what ways would you do to keep up with the competition?

If you must compete with a well known brand, you must come up with a superior or good quality products and try as much as possible to lower your price a little in order to access the market. Engage more advertisement to create awareness.

 

[Succjay]

One of the hard thing about just starting up is that there are products or a more known brand as your competition. The advantage is on their side but it doesn't mean to give up.

So if you're in this kind of situation, what ways would you do to keep up with the competition?

It's not really easy to compete with a well known brand but we know that the best will keep coming because people keep making research and bringing out the best. So to compete with them look for their weaknesses and prove it in your brand.

 

[iamgroot]

One of the hard thing about just starting up is that there are products or a more known brand as your competition. The advantage is on their side but it doesn't mean to give up.

So if you're in this kind of situation, what ways would you do to keep up with the competition?

You have nothing to worry about, keep in mind that the top brands did not immediately become known, they also just started with nothing, being a beginner, becoming a loser, but did not give up and continued what they started. Treat them as an example and motivation so that you can also reach what they have achieved.