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Match their prices, while ensuring you give excellent customer service - before, during and after sale. Many people would prefer to do repeat business with a firm giving great customer service, than cheaper prices.

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Q: How do you deal with new competitors in the market?
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Related questions

Who is the competitors of Intel?

That depends on market. One of biggest competitors in CPU market is AMD. On the market of motherboards the competitors are EVGA, ASUS, MSI etc. On the market of SSDs competitors are Samsung, Corsair, OCZ etc. .


What are the advantages and disadvantages of new product development?

advantages: - new to the market/ fresh opportunities - competitors may have reached a declining phase, giving your product an advantage - knowing the existing competitors and there over all market share and strategy's disadvantages: - competitors- dominance in the market - risks on failing to achieve sales and the product being unsuccessful


What are the types of competitors in the market?

business competitors business competitors business competitors business competitors business competitors


What is a 'lead market'?

A market in which a company introduces a new product and wants to hold it by having a competitive edge from other competitors.


What is a disabled market?

Where the competitors are not allowed


What is disable market?

Where the competitors are not allowed


What is market situation analysis?

A market situation analysis is used to analyse the current market or industry in which you would like to launch a new product. It identifies major competitors within that market, therefore allowing you to plan the launch of your new product accordinly.


Does travelocitycom offer good deals?

Travelocity, like it's competitors in the discount travel market, can offer great deals on airline tickets and hotels. It would behoove you, however, to check with its competitors to be sure you are getting the best deal available.


Project title for market research of Amul ice cream against competitors?

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How should a business deal with increased competition?

The best way to deal with competition is to effectively identify it through market research and industry knowledge. The company should also position itself in the market relative to its competition. It should focus on brand recognition and product differentiation to establish its name as separate from that of competitors. The company should also follow competitor movements, such as price changes, introduction of new products and mergers and acquisitions. The company should always be aware of its competitors and improve itself and its offerings based on that as an ongoing process.


What are the pros and cons of first movers in technology?

Advantages of being first to market may include: * Charging a price premium until competitors enter the market. * Establishing your product as the brand leader in customers' minds. * Learning before competitors how to reduce manufacturing costs (learning curve). * Creating exclusive relationships with suppliers and distributors. * Improving the product ahead of competitors due to customer feedback. (Getting your Mark II product ready while competitors are still working on their Mark I.) Disadvantages of being first to market may include: * The cost of developing the market for the new product. * The cost of getting regulatory approval for a totally new type of product. (Competitors may have lower regulatory costs as their product is a "me-too".) * The cost of testing the various market segments, not all of which may succeed. * Enabling competitors to learn from your mistakes.


When a business has no competitors and controls the market for a product or service it is said to have an?

have a monopoly of the market