What actions to tak when the competition becomes stiff

[Kvngsammy]

You don't have to run from competition when you see it. The best way is to work on delivering value and showing your customers (both existing and potential) that makes them think they're taking advantage of you.
Make them offers they can't resist.

 

[jay]

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.

It is very important for you to understand how the competition works so that you will know exactly what to offer to your customers that is going to stand out more than what your competitors offer.

 

[Skysaint]

Well, I think that's the time you need to go outside the box in search for better and more efficient way to compete because if you keep up with the old method, you might become outdated and so lose in the fight. Moreover, this is one of the advantages of going into a business you have passion for.

 

[ganibade]

Their is a lot business strategy when competition stiff as a result of business failed after being struggle to survive when some people are selling the same products in the same place.
We can take a new plans to start again by going in to Media advertisement and online advertisement to improve the business.

 

[Shigobad20201]

Their is a lot business strategy when competition stiff as a result of business failed after being struggle to survive when some people are selling the same products in the same place.
We can take a new plans to start again by going in to Media advertisement and online advertisement to improve the business.

When competition becomes stiff and you realsises your company or business organisation has been negatively affected , all you need is advertising strategies and upgrading your product.

 

[Lucy ID]

When you have rivals or competition in your line business you will need to think outside the box meaning you will need to do an extra work. Find out what your consumers needs that your competitors are not doing, make research and find ways to make your business stand out

 

[Heatman]

We should care for our customers so they'll continue to patronize our market. I love a situation where a seller treats me with love, and politeness

Personally I believe that learning exactly what your competitors are offering to their customers is something that is going to help you to find a way to beat the competition.

 

[jay]

Theres a saying that goes "customers are always right" even when you knew they are wrong, taking good care of our customers and making sure you provide them with the best is the only solution when competition become stiff.

You should try and make your product and services to be very unique to your brand which is going to make it look absolutely different from what your competitors offer to the customers.

 

[tyrim88]

You can develop a unique selling point for your products in order to stand out among the competitors. If the competition is too much for your capacity it will be very good to look for another segment to target.

That is definitelly where your own research about the market and what the customers really needs would come to play,because at the end of the day,it would be a misplace priority to try and get what is not needed to the end users.

 

[Sotherefore]

I don't know how this can be done , but I think in this case you have to step up your marketing strategy. You can offer incentives to your clients who patronize you in your business area. In fact you must look for any legal way to get more clients into your business and this must be concentrated on advertisement and marketing strategy.

 

[tyrim88]

Yes he is right, giving discounts too often will only make you run at a loss, the best way to combat competition is by offering wonderful service and giving customers value for every penny spent.

One of the ways of wading off stiff competition is by way of discount to your customers in a way that will be favorable to them,it could be in the form of free delivery of the products to their various destination and other incentives.

 

[Kane]

Closing is not the solution. You have invested a lot of money and when you close because of competition, you are going to lose your money. If competition is stiff, you need to create a new product and target new customers in your marketing campaign. You also need to offer lowe prices to attract customers.

 

[Good-Person]

Closing is not the solution. You have invested a lot of money and when you close because of competition, you are going to lose your money. If competition is stiff, you need to create a new product and target new customers in your marketing campaign. You also need to offer lowe prices to attract customers.

There are a few businesses that have closed in here due to stiff competition and I would like to mention here that the business was actually a multinational organisation and a very popular fast food chain. Local market damaged their business and this is why they had to exit the market.

 

[Frank]

I don't know how this can be done , but I think in this case you have to step up your marketing strategy. You can offer incentives to your clients who patronize you in your business area. In fact you must look for any legal way to get more clients into your business and this must be concentrated on advertisement and marketing strategy.

This is very important. Find out ways to keep making your customers feel that they made the right decisions buying from you. It is not always as easy as one would expect, but marketing more should be introduced into making your business work out as expected most of the time as well.

 

[Ja sa bong]

Treating customers well like they are loved and appreciated when there is a stiff competition is part of what will keep them to yours business. Every other businesses will reduce their products prices and offer discounts. It's a common strategy which is why using another unique trick will give your business an edge.

 

[Heatman]

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.

There is always going to be competition in businesses. This is the reason why you have to make sure that when it comes to how you manage your business and treat your customers, you have to do it right at all times. Make sure that you seek for their feedback always because this is going to provide you with information about how they feel about your business product and services. This is so that you can work on making sure that they are not losing interest in your business.