People tend to buy from already existing brands. Brands which they have patronized and trusted over time. If you are a new startup and you manufacture some products. If you did your market research well, certainly you must have competitors and how do you beat them. You need to focus on price and quality, they are important factors. Make sure you find a way to produce quality product and ensure that your price is slightly low, slightly in the sense that you will only gain a little and not run into loss. But this will definitely help you build your brand and it will help you over time.
How to Face Business competition
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When it comes to running a business, competition is something that cannot be avoided. The best way to deal with it is to face it head on. Take out time to study and understand who your competition are. Find out what they are doing wrong and improve on that aspect in your own business. Also study what they are doing right and try to improve on it as well.
Facing a competition and not focusing on the market is not the ideal thing to do, a business owner should understand that there's enough to go round, focusing on your competition is operating with a scarcity mindset, where you think his customers or clients or the sales they make is all there is.
But if you focus on becoming better, improve the product or the offering, you can open a new segment of the market no one knows exist, a market attracts its kind, make your product or service as best as possible and then allow it to compete with others out there based on merit.
But if you focus on becoming better, improve the product or the offering, you can open a new segment of the market no one knows exist, a market attracts its kind, make your product or service as best as possible and then allow it to compete with others out there based on merit.