Competitive Attitude:
As a businessman, it is your it is essential for you to survive in the market & stay ahead from your competitors there is no competition you would not get motivation to develop good products and also grow day by day. Sometimes small companies try to break your business into small parts and that’s when you can face difficulties in your business. See, if you want to be successful in your business and accept competition with open hands, Just don’t let it break you. Respect your competitors and have concentration to beast the, m and that will be the key to your business being a successful one.
Types of business Competitors:
1. Direct competitors.
A direct competitor probably comes to mind when you think of your competition. These are businesses offering similar (or identical) products or services in the same market. They also vye for the same customer base.
2. Indirect competitors.
Indirect competitors are businesses in the same category that sell different products or services to solve the same problem.
3.. Replacement competitors.
A replacement competitor offers an alternative to the product or service that you offer. You both seek to solve the same pain points, but the means are different.
Ways to stay ahead in Competition:
1.Know your competitors well
2.Know your customer (very important)
3.Have your use that directly solves the problems of your consumers
4.Develop a good marketing strategy
5.Keep updating your image on social media, website, keep making changes in your business card.
6.Retain your existing customers by giving them benefits of schemes ,discount, giving them more value than they pay
7.Attract good employees by having good work environment because good and skilled employees play a huge role to stay ahead in the competition.
8.Have a clear vision of where you want to stand after 5,7 or 10 years.
How to provide best Customer Service so you can stay ahead in the competition?
1.Develop Good relations with customers
2.Be available when they need you
3.Always fulfill the needs of your customer
4.Be a part of customer’s community
5.Give proper training to your customer care executive staff
6.Give a chance to your customer to give Feedback.
Case Study: Amazon
Amazon is all about convenience — saving time and making life easier for customers. .It already offers low prices, big selection and convenience, and now it has another weapon: Being Anticipatory. So, back to Amazon. It started as an online bookstore and disrupted the industry. First, its pricing and selection made it competitive. When the notion of convenience was recognized as a major competitive differentiator, it was exploited. Amazon knows how important convenience is to its customers. Hence, Amazon is the best example of how to beat competition.
