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Can small businesses thrive among mega businesses
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[QUOTE="Etini, post: 278064, member: 90141"] Before any person starts a business, he/she has to devise a strategy to penetrate the market and also stay afloat. I believe small businesses can compete effectively with mega businesses without being swallowed up. I think it is a little bit dependent on the kind of business. For some businesses, your critical success strategy could be the personalized delivery of goods and services. You build a personal relationship with your customers that they can't get from these mega businesses. With that, you can gain consumer loyalty. Target marketing is also important. Understand the specific needs of a certain set of consumers of that product/service and tailor your package to rhyme with these needs. There is a reason Chinese phone manufacturers are doing well even when Apple Inc and Samsung are still in the industry. They tailored their products to meet with the specific needs of consumers in Africa and the developing world. That is target marketing. [/QUOTE]
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