- February 27, 2017
- Posted by: Chowdhury Shahid Uz Zaman
- Category: Business strategies
Some tips not to succumb under the weight of competition from large enterprises.
Defend yourself from the competition is never an easy thing, especially when rivals with whom you encounter are larger companies or notes to consumers. Situations like this are certainly primarily to penalize all those organizations of small size, which faced the overwhelming power of the giants usually must choose whether to …
- Keep fighting, pulling out strategies to help ensure its survival;
- Bend over and give up their market share.
Those who opt in favor of the first option must act with extreme caution, by performing competitive analysis making it possible to understand what path to take to maintain the success and professional prosperity real competitor analysis to find effective solutions to go in the short, medium and long term.
Here, then, six precious suggestions for those who know they are competing with a large company. Tips to follow to the letter to ensure the welfare of the company run!
#1- Not to panic
How to defend themselves from the competition when you are dueling against a greater reality, known or important? First rule: absolutely forbidden to panic. This for the simple fact that fear, as well as tarnish rationality pushes usually to counterproductive actions.
To figure out how to counter the competition there must be clarity, serenity and good sense. Essential elements that help to focus on primary importance factors, such as the targets for the future, the results achieved over the years, the characteristics of the market in which to belong, and the needs of customers.
#2- Analyze: advantages, opportunities, risks and dangers
Who wants to stand out from the competition knows that it must first offer of services-products consumers with some twists. Why customers should continue to choose company A when the company B is more popular or important? For the simple fact that Company A offers that something extra which buyers can not do without: a kind of added value impossible to find elsewhere and translated into higher quality, rather than indispensability convenience or in the uniqueness of what is offered.
From a SWOT analysis it is definitely the first step to a successful business strategy!
You may also like to read another article on heygom: Google Analytics: What track on a company website?
#3- You know what opinion to consumers
When the primary goal is to differentiate from the competition, or even outperform the competition, you have to know exactly what consumers think of the companies present in the market (its own and those of others).
The easiest and fastest way to find out is to use the web, where you can find so many honest feedback completely free and users reliable.
These opinions serve both to understand what works and what does not like the service provided, is also to identify any of the competitors weaknesses. After having made a clearer idea of the situation, you can change the strategy, to make it more akin to customer needs (such changes are much more feasible when it comes to actually small because the big ones are slower and less likely to change).
#4- Do not be obstinate to be competitive on price
The first rule to defend themselves from the competition is to not insist on be competitive on price, especially when the one proposed by a certain company is too low: who does not respect this rule is likely in 99% of cases fail miserably, because reality can to offer super low prices can afford in most cases only because of its huge size.
Dimensions that allow it to carry out large-scale products and services to optimize the costs to the maximum. Rather to peg away on prices, it is better to strive to make it clear to buyers that their business is based mainly on factors such as customer service, the quality of the proposals or other similar items.
#5- Do not want to destroy the competition
After doing an analysis of competition to realize who is your rival in business, we must avoid giving the unstoppable desire of wanting to destroy, especially if it is a giant that will be difficult to put in difficulty by a small competitor.
Such attitudes do not bring any useful result and, above all, takes attention away from their targets. Since customers are not at all interested in business disputes, but they just want to be able to trust in businesses that meet their needs, it is appropriate to focus efforts on the quality of services provided.
#6- Finding a niche
Analysis of competitors allows us to understand in which markets the company excels rival, and in what other markets, however, shows weaknesses or vulnerabilities.
No commercial reality (even bigger) is a winner in every single sector if the aforementioned company B dominates the commercial segments 1, 2 and 3, it certainly can not do otherwise in the segments 4, 5 and 6, because no business has the monopoly of each market. The advice is therefore to find a niche that allows the activity managed to thrive despite the presence of a major competitor.
These are our 6 tips for those who come to be competing with a large company: valid measures to be put in practice to defend its business by the overwhelming power of the giants.