Fear The Competitors?

Discussion in 'Growing and Managing a Business' started by Redd, Jul 29, 2015.

  1. Redd

    Redd
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    Maybe your competitor, who sells similar products/services has been around longer?

    That need not be an issue. When entering a crowded niche you need to offer something "special" which others don't. It could be great customer service, faster shipping — anything that sets you apart from the competition.

    Whilst marketing, you could also target a specific demographic. Divide and conquer . . .
     
  2. CodyDeegan

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    That is right. You know what they say; if you can't beat them join them but add an extra attribute in order to set you apart form you competitors. Add ons such as better customer service quality, promotions like discounts and low offers could help you gain and retain customers. Don't let your competitors intimidate you. Just think that what they can do, you can execute it better.
     
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  3. sumit.agah

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    Your competitors are simply benchmarks of what you should expect to exceed. Whatever your competition is doing, do that even better (more efficiently, higher quality, more quantity, cheaper, etc). Are you already in business or are you wanting to start a business but afraid of the competition? If is it starting the business, it's fear of failure that you're facing.
     
  4. Damien Lee

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    You should never fear your competitors and spend too much time over-analyzing them. I've faced tons of competition during my years as a businessman and simply focused on my own business. Your best friend and worst enemy is ultimately yourself. Your competitor may thrive or he may shut his business down in a month or two. As a business person it's your goal to take care of your own affairs and maintain a healthy business. Once you do that, it doesn't matter who you are going up against.
     
  5. Asher ross

    Asher ross
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    When you enter a niche that is crowded to make an entry in this niche you have to start with reduced prices or you must have a novel product / service. The trouble with reduced prices are that if the customers are drawn to your business, then the already existent players in the niche reduced their prices even further forcing the new entrant to close the business or exit the niche. So it is better to bring about change, i.e. come up with something innovative it can be a product attribute or the style of service, the process, value-added services etc. Competitors are going to be everywhere and monopoly is going to be completely wiped off businesses.
     
  6. kaian

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    The mere fact that everyone making comments here is able to come up with good ideas, it only means that the competition is not sleeping. What if every competitor is doing his homework to provide all these suggestions you made here? That makes the competition even more intense. I think I will also consider exploring blue oceans rather than the reds
     
  7. Robert01

    Robert01
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    The fear should be in the competitor's heart. Cause you know, it you who are their new competitor now. Let that fear be grown into them. What do you say??
     
  8. clevelandslim

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    Thinking of competitor reminds me this "A prosperous competitor is often less dangerous than a desperate one". Your competitor always makes you to be alert about taking decision, reason you know what happens when you are not alert. If you have a competitor you will learn more about your marketing strategy and if have a strategy to compete with them then you need not worry about anything you will reach your target
     
  9. spyindiaanu

    spyindiaanu
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    Competitors involvement is necessary to grow your business. So you should never fear your competitors, focus on what they do new and how you should analyze them. As you know that everyone wants to grow business and get more benefits, do your work and ready for new challenges, maintain your business healthy then at that time it not matter who is your competitor you improve among them.
     

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