How to deal with business competition

If you think you can beat the competitor with rock bottom pricing, it can only be a short term strategy, its not sustainable. Bringing prices down to attract the customers will only reduce your profit margin, and you are only likely to compromise with quality of product or services.

To survive the competition or to win it, all you need to do is to provide uniqueness in your product or service or both to the end users. When number of people is selling the same product or service you need to differentiate yourself from the masses through innovation in product and services. 


Another advantage of having uniqueness in product and service is that you can dictate and control the prices and slowly a unique category of loyal customers emerges to buy your product and services, which also help promote your business through word of mouth publicity. You will need to create your own niche market by providing uniqueness to cope with Competition. Know top advantages of Niche Marketing, here - http://fromthediaryofmentor.blogspot.in/2012/02/top-10-advantages-of-niche-marketing.html

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