Business is good when there is competition in the business. It cannot be avoided because there is a free market where you cannot restrict others from selling or offering the same products or services. A competition is most beneficial to customers since there are options to choose from and they get the best deal.
If you are a business owner selling products, how can you cope with the competition and keep up the business going. The important factors are competitive pricing, quality of the products, availability of the stocks, and the value-added customer service.
Competitive Pricing – aside from having a lower price from its competitors, it also includes discounts and other promotional offers to your customers.
Quality of the Products – customers do not always go for the cheaper one, but most importantly is the quality of the products. You can develop repeat orders if your customers are satisfied with your products.
Availability of the Stocks – It is not enough that you have a lower price, good quality, but also the availability of the stocks when it is needed most (deadlines are met). It also includes offering fresh designs for more options.
Value-added Customer Service – it is the window or the door of your business. Before customers can experience the other three, customer service is very important. It is like conveying a good message (your products) and how it is being delivered (customer service) to customers.