Ways to deal with competitors in a business?

[Skysaint]

Competition in a business is almost a very familiar term with the business men. Infact, it's almost impossible to be running a business especially a very lucrative business without having to deal with competitors; either the pre-existing ones, those who are yet to join the crew or both.
This actually do leaves us with the need for finding possible ways to get rid of them. It's not always easy because, as your looking for ways to become the best competitor, others to are also in search for the same purpose. It's more like a survival for the fittest.
In my opinion, I would suggest that the first place to look at is how to improve on the quantity and quality of products being offered to the public. Another might be making use of a discount and sorting out for the best advertising strategy to use to announce your business.
So what's your say on this?

 

[Alexandoy]

For me, a competitor is a challenge and not an enemy. It is what makes me to be innovative to compete not only with the price of the products that I sell but also in improving the service. Another aspect is the marketing style that should also be improved with creativity. But the best part of competition is being friendly with the competitor. It is okay to co-exist when the market is big.

 

[Abhishek chandel]

I feel competition is an important part of having them is actually good for business.

Competition forces you to give your best. Having that challenger right on your heels pushes you to run faster, work harder, and think deeper. You can also learn plenty from the successes and failures of a worthy adversary. Plus, the competition just makes the game more interesting and a whole lot more fun

 

[Abigael]

Competition in business is something that may not be so easy to conquer. But it is possible. It all comes down to you being unique and able to attract most of the customers. They will go for things they like most and so you should give that to them through unique strategies.

 

[Chibson]

if you want to venture into any business then you should expect competition because it is very necessary for you to improve in your business. Competition is definitely an advantage today customers because it gives them the opportunity to choose the best. One of the main ways of becoming very competitive in his knowing exactly what your customers want and meeting their needs.

 

[Skysaint]

For me, a competitor is a challenge and not an enemy. It is what makes me to be innovative to compete not only with the price of the products that I sell but also in improving the service. Another aspect is the marketing style that should also be improved with creativity. But the best part of competition is being friendly with the competitor. It is okay to co-exist when the market is big.

You are right about that. A competitor is just someone who offer similar product and/or services to the public just as you do, then it becomes a challenge to your to improve on yourself to get the best attention from your customers. This doesn't necessarily mean that both of the competitors should become real enemies, this is what most business men don't really do understand

 

[Jonaville]

At this age we are in, it is safe to say that there is no business out there that has no competition. In fact, there is no business idea one has that has not been thought of by another person. But peculiarities is what makes these businesses stand out from the competitors.

 

[Jasmine]

You can outsmart your competitors in two ways, one, by creating a better product (compared to your competitors' product), two, by selling for low price (compared to your competitors' product). If you sell higher quality product for lesser price compared to your competitor, you can easily outsmart your competitors and perform well.

 

[Mika]

You should do competitor research before you start a business. Actually, competitor research is a part of a business plan. Your research should be focused on knowing who exactly are your competitors, what their market size is, what they are selling, what is their selling price, what marketing methods they are using, etc.

 

[Skysaint]

You can outsmart your competitors in two ways, one, by creating a better product (compared to your competitors' product), two, by selling for low price (compared to your competitors' product). If you sell higher quality product for lesser price compared to your competitor, you can easily outsmart your competitors and perform well.

You are probably right about that. The secret behind fighting off competitors lies in how best you try to gain the attention of your customers. It doesn't really matter how you do it but as long as they see you as their favorite person, Maybe due to the discount or the supply of more improved product than the rest of your fellow competitors

 

[Mandy96]

As for me, I believe that the way to overcome a competitor when you have one is to step up your ways or running the business, you will firstly need to add some more values to your product with a little decrease in price, so that will sound to your customers like more qualities and quantities, less price tags. This is a very good one honestly, then you will have to work on the marketing and the promotion of the new added values. This is very important. Don’t be stingy to spend money to advertise your brands, I am so sure that this would work.