How to Outsmart Your Competitors

[Jasmine]

Recently, I bought a product through Facebook Marketplace. I negotiated with the seller and told them that if they gave me free delivery, I'd buy from them. There were lots of other sellers selling the same thing, but I went with this one because they offered free delivery. The seller managed to outsmart others by giving free shipping. When I shop, I always try to haggle the price down. Even if it's just by a little bit, like 50 cents. So, if you want to stay ahead of the game, you've got to do two things. First, make sure your prices are lower than your competitors. If you can't do that, then offer extra services like free delivery or even cash on delivery.

 

[moonchild]

Makes sense if you're selling products or services in competitive markets, most products are basically doing the same thing, they are in pricing competition with each other and most of the times the person with the lowest price wins, another way to look at outsmarting competition is to know innovate in the market, do something different.

Think about what Musk did with Tesla he was just not building a new car, it was electric and self-driving, and they're pricey people buy them nonetheless, if you can't cope with lowering your price you should innovate in the marketplace, which is more profitable in my opinion.

 

[Mikes smithen]

Competitors in business is of course a problem but to some extent. However a business owner must make sure that he or she are smart his or competitor if he or she want to make reasonable amount of income and profits in his or her business. However it is important that business owners and managers understand that business management and operation especially when competitors are around is a gradual process but can be done efficiently true planning and effective thinking. The first steps in achieving this is the current out a feasibility analysis of some of the things your competitors does not possess, which of course you can possess in order to win customers and that of course could include customer services or performing after sales service.

 

[Phantasm]

Among the important ways of outmaneuvering business rivals are strategic thought, novelty and performance. Practical strategies include discovering your competitive advantage, fully understanding rivals, continually innovating, focusing on customer experience, adapting technology, forming strong connections, maintaining nimbleness as well as adaptability, investing marketing and branding initiatives; concentrating on talent and culture; while observing competitor’s activity. Implementing these strategies correctly can make a company be successful in the market for a long time. To stay ahead of competitors and maintain competitiveness in the market it is necessary to always follow market trends, listen to what customers say about your products and services or take note of any changes that your competitors make.