Competition in business

[Alexandoy]

When choosing a location for the business I always agree with the research not only of the customer base but also on the presence of competitors. Why open a grocery store in a village when there are already 3 established grocery stores? That was the lesson I learned from my marketing subject in college.

I have posted on this but not credited. I wonder if there is a problem with this board because this is the 2nd time that I had posted and did not get credit.

 

[Augusta]

Well, for me it is all about the strength of the new entrant. More than 20 people can sell the same thing but what will stand them out will be their creativity. Methods of operations and style of business.so. Location matters but the number of competition doesn't matter provided it is going to be a healthy competition. I'm all for it

 

[Good luck]

There is always a competition in business to know how lucrative the business is and how the bus can survive in the labour market.Competition will make the business to be more solid in the market but it also depends on the product.

 

[Lens1000]

I see no reason why one will establish a business in the village where such business already existed. Village is not a densely populated area. The population in the village is sparse , so you cannot compare the sales with the same business established in the city. Although, I prefer competition because it will bring out the best in you.

 

[Mika]

One of the reasons for business failure is competition. If your business is in heavily saturated niches, it is very likely that your business fails to survive the competition. For instance, if there was already over a dozen clothing store in your street, and if you launch your own store, your clothing store might not succeed.

 

[Sherman198]

I think your modus operandi, is the major thing. The way you conduct your business. We need to be unique at what we do, if we want to stand out among our peers. Competitors are inevitable, there's nothing in life you will do, that you will not have competitors, you just have to run your business differently.

 

[Alexandoy]

I think your modus operandi, is the major thing. The way you conduct your business. We need to be unique at what we do, if we want to stand out among our peers. Competitors are inevitable, there's nothing in life you will do, that you will not have competitors, you just have to run your business differently.

Yes, I agree with the style of operation. Even in the fast food business when there are countless fast food outlets in our place one has a buy-1-take-1 promo, another has a free delivery, there's the free toy for the value meal and other gimmicks to fight the competition. But for me, it is the quality of food that matters much.

 

[Good luck]

Competition in business is very common due to jealousy and greed.everyone want to make a very large amount of money in a very short time,everyone wants to have much customer at the same time and most of them trade on the same line of business.. The business that this is common is clothing business which they believe is quite lucrative in the market

 

[funmi]

Many people like the competition in the business. Some are covetous and envious of the business you are doing. In fact, they may not really know much about the business you are doing but they see you are making some money out of the business, that is why they wants to force their way into the business. At times, some of them are later sent packing out of the business.

 

[btaliat]

I do not see any reason why intending business owners will be running away from competitions. In fact, the only things that promote businesses is nothing more but the ability to withstand more competitive market. That's why a business owner must be innovative and creative in order to compete favorably.

 

[kayode10]

Competition in business is very important when it is healthy. A healthy competition brings about innovations among the competitor and the consumers are going to be the one that will benefit from this while the competitors are making more money. Competition in business is not good when it becomes a shading and people are after each other.

 

[Skysaint]

Competition in business has it's advantages as well as it's downsides. It's necessary in a business because it opens our minds and makes us look for ways to improve on our business and give an edge to other competitors here by making us better business men.
It's not healthy when the competitors are just to much and dangerous, it tends to create pressure and most times makes a business man lose focus which is very detrimental to business

 

[Mataracy]

Though its a normal thing in business to face with some challenges in the business from the competitors. At time many business man do not use to making good research on where to put there shop or company before they begin the operation which is very important. And one need to do some thing in order to outsmart the competitors if one really what to succeed in business.