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How to handle fierce competition in business?
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[QUOTE="Peppul, post: 74423, member: 27039"] To handle fierce competition one needs to know your customers, most companies or business don't have enough customer data to build effective marketing campaigns, most marketers knows their customers purchasing patterns, which is certainly helpful to track. By knowing your customers, you can build a relationship between them and your company, extending the customer lifecycle beyond only a couple of purchase. Also understand the competition. To understand your competition, it's most important to begin by examining the marketplace. First take a hard look at the things your competitors does. Secondly look to see what your competitor doesn't do and then try to fill in that part of the market. Also highlights your difference. You can use differences to learn how to handle competition in business. After completing market research, understand what makes you different from the competition like do you have more ethical sourcing for products. Well guess I will leave this here. [/QUOTE]
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