What actions to tak when the competition becomes stiff

[Setfragil]

When the competition becomes stiff in a business, you will have to get closer to your customers to know how you can improve on products delivery to satisfy them.

 

[akinlolu99]

At the point when the opposition turns out to be stiffer, I'll consider bringing the value somewhat low, and not lower than what I got it. Yet, bringing it down to make a few increases, so it will be lower than different contenders own. Be that as it may, it should stay quality, then, at that point rebrand it to look really captivating.

 

[Sotherefore]

At the point when the opposition turns out to be stiffer, I'll consider bringing the value somewhat low, and not lower than what I got it. Yet, bringing it down to make a few increases, so it will be lower than different contenders own. Be that as it may, it should stay quality, then, at that point rebrand it to look really captivating.

This is still a competition and the other competitor might also do the same .sometimes they are just there to copy what you have done so as to keep on competing with you.

 

[jeff87]

You can start by diversifying your marketing channels. Another thing you can do is to study your competitors to find their weak points.

I agree with you. You have to find out your competitors weaknesses.

Then you have to innovate and improve your product or service more than your competition. It's for the customers satisfaction and that will result to your profit.

 

[Josemendez]

In a competitive environment one just need to find something that they can use to out smart other competitors and most times it is not about giving discount

 

[Richard92]

Giving a discount or going on a sale is okay to fight the competition. But you may be surprised when the competition goes on sale too. You cannot fight a cut throat competition. That can make you bankrupt.

The best thing to do when competition becomes very stiff and difficult is to improvise and bringing innovative and creative methods to beat your competitors.

 

[Ralphjoe]

Some businesses suffer big damages due to stiff competition that they close shop out of frustration. This situation is evident in restaurants where the area is full of the same type of business. One wise businessman said it is not the discounts and promos that would bring the customers but the TLC in service - tender, loving care. Customers prefer to be pampered and treated as not just a guest but a longtime friend.

For me when the competition becomes very stiff I think you need to study your competitor's product and see what made is product to be thick and once you discover that thing you should make sure you all have it and also improve on your comparative advantage so that you can get a foothold on the entire market.

 

[Billy]

Some businesses suffer big damages due to stiff competition that they close shop out of frustration. This situation is evident in restaurants where the area is full of the same type of business. One wise businessman said it is not the discounts and promos that would bring the customers but the TLC in service - tender, loving care. Customers prefer to be pampered and treated as not just a guest but a longtime friend.

When competition becomes stiff, it just means it is time to put more effort on research and development. You must take time to learn how your competition is doing it, and how you can do it better than them. That way, you will always be one step ahead of your competition.

 

[Josemendez]

When competition becomes stiff, it just means it is time to put more effort on research and development. You must take time to learn how your competition is doing it, and how you can do it better than them. That way, you will always be one step ahead of your competition.

In addition to this , if it is no longer a healthy competition , it is encouraged for the person to avoid the business entirely and look for another location or business

 

[Yusuf1]

The best thing to do in this kind of situation is just to monitor your competitors, see what they are not doing right and capitalise on it and start doing it right to get more customers to your side

 

[Mayox25]

It is true that customers want to feel cared for. It is in the initial stage that you relate with customers in a formal way, but after continuous patronage you establish an informal relationship with them, asking about their children,or their husband or wife,their health and the likes. This makes customers feel being part of such a business .

 

[Kingstone]

Competitions can be good for the business but can be problematic if not controlled. I will agree with you. When the competition gets tough, you need to make friends with your customers. I guess good communication skill is vital in all areas

 

[Alexandoy]

It is true that customers want to feel cared for. It is in the initial stage that you relate with customers in a formal way, but after continuous patronage you establish an informal relationship with them, asking about their children,or their husband or wife,their health and the likes. This makes customers feel being part of such a business .

I like that style of getting personal, so to speak. When a parent is asked about her child (or children) it would be a compliment that for sure the parent would be excited to talk about the topic. Even a newcomer in the place would be proud of the new house or maybe of the job of her husband.

 

[Richard92]

I like that style of getting personal, so to speak. When a parent is asked about her child (or children) it would be a compliment that for sure the parent would be excited to talk about the topic. Even a newcomer in the place would be proud of the new house or maybe of the job of her husband.

The best thing to do when the competition in your business become very Steve yes for you too apply some creative strategy and also innovative strategy to your business in order for you to beat your competitors.

 

[Justin]

If the competition becomes stiff, increase the price of your product, advertise aggressively and let people assume that your products are of superior quality.

 

[Ralphjoe]

I agree with you. Personally, I like patronising people who treat customer with care and I don't like shops where people are rude. So being caring would help you stand competitors.

I can never see myself patronizing any business that treat it customers in a bad way because I am just kind of person that values people a lot and if I see any way that people are not being treated right I will definitely have voice so kind of place.

 

[Setfragil]

Offering good customer service and better after sales service for your customers can make them to drop your business competitors to patronise you business.

 

[Thinker009]

It's the discount that would bring customers, because those customers can get the love they want else where , so they need the money it's very important I think

 

[Destinyfejiro]

Some businesses suffer big damages due to stiff competition that they close shop out of frustration. This situation is evident in restaurants where the area is full of the same type of business. One wise businessman said it is not the discounts and promos that would bring the customers but the TLC in service - tender, loving care. Customers prefer to be pampered and treated as not just a guest but a longtime friend.

I totally agree with you. No one would like to patronise a trader who talks to customer rudely or doesn't show care towards his customer. As for me , I love patronising traders who knows how to be caring and gentle when attending to customer.

 

[Adam13]

Despite the fact that competition is a very important element in business growth when it becomes too stiff or too much customers and business owners suffer a loss. If this becomes the case I suggest you move to another location or better still diversify your business where the competition is less. Or no account should a business owner run at a loss to please his customers or to keep his business going.