1 year, 8 months ago
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What are 5 techniques to overcome business competitors?
My aunt has been in the catering business for some years now and has gained her grounds in her area. But recently, a competitor just moved to the block and has been claiming all her customers. She reduced the price of her goods, but it is killing her business. Do you have tips on how she can overcome her competitors without losing so much money?
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M$2 Answers
I'm assuming that your aunt is running a restaurant, since the competition is nearby. Here are a few ideas that may help to fetch people back to her place.
1) Offer a set meal at a competitive fixed price. Have 3 or 4 choices per course and offer wine or another type of drink included.
2) Look at easy ways of brightening up the premises. New tablecloths and a few flowers on the tables can work wonders for an inviting interior.
3) I'm sure she does anyway, but make sure the toilets are spotlessly clean, a few fresh flowers there to and maybe some handcream always looks as though the proprietors care about their customers.
4) Consider some different type of advertising. If local radio is too expensive, consider paying someone to do a leaflet drop around the town. The leaflet could have a free drink offer or something, on production of it .
5) If someone is ordering drinks only initially, give them a complementary taster of one of the dishes of the day.
I hope this helps and that her business picks up soon.
1) Offer a set meal at a competitive fixed price. Have 3 or 4 choices per course and offer wine or another type of drink included.
2) Look at easy ways of brightening up the premises. New tablecloths and a few flowers on the tables can work wonders for an inviting interior.
3) I'm sure she does anyway, but make sure the toilets are spotlessly clean, a few fresh flowers there to and maybe some handcream always looks as though the proprietors care about their customers.
4) Consider some different type of advertising. If local radio is too expensive, consider paying someone to do a leaflet drop around the town. The leaflet could have a free drink offer or something, on production of it .
5) If someone is ordering drinks only initially, give them a complementary taster of one of the dishes of the day.
I hope this helps and that her business picks up soon.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$Report Abuse
Competition is always there when one is in business may it be big or small. People are also eager to earn extra income and those who were first to have thought of the idea will really feel bad but it’s normal – it’s part of doing business since the start. So here are the ways in which you can overcome your competition:
1. Analyze the competition – Because it’s business, you should use your analytical thinking skills in order to analyze your competition. Anticipate their actions and from there, plan your better strategies.
2. Lower prices – You don’t need to compromise your business. You can adjust or reduce the prices but not taking for granted the quality of your goods or services. It is important also that customer service be improved.
3. Differentiating from competitors – Offer products or services that are different from your competition – something that is difficult to copy.
4. Continue to innovate – It is important to think of new always because some consumers get bored with the same name, logo, and what not.
5. Customer service – It is important that the company should have excellent customer service. It’s the best way to retain customers.
6. Leverage competitive advantages – Utilize your competitive advantages in order to excel at your competition.
One tip also I have learned from successful businessmen is to avoid being emotional. Competitions are there and they’re ready to get or continue what you have started esp. when dealing with traditional business. Be wise and analytical.
1. Analyze the competition – Because it’s business, you should use your analytical thinking skills in order to analyze your competition. Anticipate their actions and from there, plan your better strategies.
2. Lower prices – You don’t need to compromise your business. You can adjust or reduce the prices but not taking for granted the quality of your goods or services. It is important also that customer service be improved.
3. Differentiating from competitors – Offer products or services that are different from your competition – something that is difficult to copy.
4. Continue to innovate – It is important to think of new always because some consumers get bored with the same name, logo, and what not.
5. Customer service – It is important that the company should have excellent customer service. It’s the best way to retain customers.
6. Leverage competitive advantages – Utilize your competitive advantages in order to excel at your competition.
One tip also I have learned from successful businessmen is to avoid being emotional. Competitions are there and they’re ready to get or continue what you have started esp. when dealing with traditional business. Be wise and analytical.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
