How Do You Handle Competitions In Business?

Teatea

Active member
Healthy competition is good for business, it helps you stay focused, innovative and stay ahead. However, it can get difficult and frustrating especially if the competitions are aggressive and fierce.
Competitions will always exist in every business, setting a plan to stay ahead is often easier said than done.
Knowing who your competitions are is the first step, find out their identity, their strengths and weaknesses and what they have to offer.
As an entrepreneur, you will always encounter competitions in your line of business, so how do you cope and handle it? Do you come up with strategies to compete or you quit?
 

Hena101

Active member
When it came to business get ready to compete weather yiy like it or not because it's something you will never run away from it no matter what. Even when you don't want to compete others will compete with you. But to me the best way to compete in business is to add value to your products and services more than the other people businesses and this can be done by packaging it in more excellent way to attract customers from every angle
 

Haypril

Active member
As a business owner, there is need to create means of tackling such challenges. Competitions are meant to come and go, it's like a time of trial in every business. To limit the effects on your business, you have to do your research and know what the other competitors lacks in there products and the manner at which it is been marketed.
 

Victor001

Active member
I don't really enjoy competition in business, though it cannot be totally avoided but it can be managed, competition can push you to go extra miles in business,it can also deplete you by getting you involve in external business plans making you go extreme.thats while I give focus to business that requires personal attention.
 

Samuel72

Verified member
According to my own point of view the best way for you to handle competition in business is for you to keep your business well standard and also you need to rebrand your product in order to be able to attract more customers and also you need a good marketing mix, because this is the only way in which your products can become more popular and at this point in time you can get enough new customers to your organisation
 

Abezol21

New member

1.Know Your Customer.​

Most marketers know their customers’ purchasing patterns, which is certainly helpful to track. But there is so much more information you can be using to continue refining your marketing plans.


2.Understand the Competition.​

To understand your competition, it is most important to begin by examining the marketplace.​

First, take a hard look at the things your competitor does.Does that company have intimate conversations with customers that lead to conversions?Do they have a unique angle to tell their story from?Second, look to see what your competitor doesn’t do, and then try to fill in that part of the market.
 

Georgeadawara

Active member
To handle competition in a business is not an easy thing I just that you need to be careful of what you are doing . inprove your products and services do the best you can do to manage you business. And give a good attention to your customers and respect to everyone. Let you not be disived by other look for more ideas that will make your business grow.
 

Maphalle

Member
Well, competition will always be there as long as we deal with the same product. If that is the case you need to check your prices not to be above your competitor. The quality of your service should be of high esteem to attract clients. Make sure the place where you operate your business is clean and attractive.
 

olubenson

New member
Competition in any aspect of business is a very good thing. You can't start a business and keep running it the same way you started. You must fight for your own share of customers by been more innovative and re-branding your business. You need to try and find loop holes in your competitor's side , so you can fine tune your own approach and make your own business more attractive . You can even offer some incentives to your potential customers.
 

Segat

Active member
It is a very important thing to know better about what you are doing that is the first thing to do then know more about your competitors products as that will inform you what to add in order to increase the quality of your products and services and repackaging your business for marketing in order to beat your competitors.
 

Daykas

Active member
That is why it good to have a proper planning when starting a business.
One of the best way to deal with this is by creating a questionnaire where by you will be able to get customers want and need.
The next is having a feedbacks from customers, it usually helps a lot cause it will let you known you weak side.
And the last is by been updated about the services and good you ptovided
 

Olajidey

Active member
Competition will always find its way in any business, you will surely see someone who is doing the exact business as urs the only thing to do is to try and join the competition and stand out, Ways you can stand out is by producing the best product make sure you redesign your package pattern and also make your price to be affordable.
 

marcusfe

Active member
As a business owner, there is need to create means of tackling such challenges. Competitions are meant to come and go, it's like a time of trial in every business. To limit the effects on your business, you have to do your research and know what the other competitors lacks in there products and the manner at which it is been marketed.
A very good business owner should see competition as an opportunity to improve. Without competition no business will improve because many people tend to relax when there is nothing chasing that is exactly how is works in business. When there is competition businesses with bring out their best in a quest to be more preferable.
 
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