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Getting a good hold of your customers amid a stiff competition
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[QUOTE="Augusta, post: 239119, member: 25283"] No matter how one try there will always be a new entrant into the market. people are always trying to start a business and they come in with their strategies which existing sellers need to adopt new methods too to be able to withstand the stiff competition that is thrown by the new business. Business needs one being creative and innovative at all times. So as an existing business you need to always look for means to retain your customers to avoid getting out of business. New business would want to capture the market share and this means that it would collect some customers from the existing businesses. So old business need to look for ways to keep their customers it can be from cutting the price : Old business can use the strategy of cutting price so that their price would be lower and this will help to retain the customers. Another avenue is to package the product in a new wrap so that it will be attractive to the buyers. The new business will want to wrap their products in attractive package and the old business can do same. Lastly, the old business can go on a persuasive marketing to let customers know their products are still the best. [/QUOTE]
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Getting a good hold of your customers amid a stiff competition
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