Let’s look at five competitive
strategies:
You can be competitive on
price: Customers’ love for low prices is well known and pricing below the
competitions sometimes is an excellent strategy to grab the customer’s
attention and increase sales. My advice, don’t price your products and
services too high because your customers will not buy, and don’t price too low
and neglect your profits. Set the most competitive premium price in the market
to ensure a good return on investment, but use a temporary reduction in price
once in a while, which could be a discount.
You can concentrate on
honourable delivery: Practice good ethics and integrity in your business. Deliver product,
service, provide knowledge or expertise with ‘integrity.’ Be customer-focused,
and be committed to providing value to customers. Deliver on whatever you
promise customers and do it on time.
You can supply quality
products: By offering essential products or services, you’ll build a business
with a good reputation, and earn the trust and loyalty of satisfied customers and
profit your bottom-line correctly.
You can provide
outstanding service: Providing a terrific service goes beyond just making sales
and saying “thank you,” to your customers after they buy from you. It entails
building a long-term relationship with your customers, enhancing your
business’s reputation, training yourself and brushing up the business etiquette
skills of your employees, so your business can provide more and better services
to customers.
You can focus on design:
To have a better first impression, stand out from the competitors, and have a
consistent brand identity, have a professional design that expresses the
interconnected brand of your business. A professional design of all your business
marketing material makes your business easier to find, easier to understand and
creates a better experience. . .
Was that helpful?
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Love & more
success. 💗
Your friend and Coach,
~ Damilola Ogunremi.
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