Thursday, October 26, 2006
I love Business competition
When I started business, I don't have much competition but now I am loosing some clients becasuse of competitor, now its a time to redefine my products and services. When I say redefine product and services means providing services at resonale price I always provide best service at low price than my competitor, I am in service industry where I have fear that my any client may become my competitor.
My strategy to face competition
supose I am in Business of X, and I got many competitors so what I do is I start other side Business Y, when I start receiving returns from business Y, I start providing Product X at lowest price so that my competitor will not able to provide same product to less price than me, and I am able to provide because I am compensating my profit of Y product to loss of X product. This way I remove all competitor from market and when they exit market I switch back to orignal price and gain customers.
posted by Sanket @ 6:22 AM  
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