E3G6 competing page

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How to compete


external image fast-food-logos.gif
This picture is of the main fast food restaurants that compete daily.

Competing:


Provide exceptional customer service
Treat every customer as your best customer and you will be BETTER than the big guys
Pamper your existing custom
When the big boys and mass merchandisers come to town, now is the time to strengthen the loyalty of your existing customers.
Consider collaborating with similar businesses.
Join with small rivals to form a 'cluster' that can act as one body to rival bigger competitors.
Use "loss leaders
A “loss leader” is defined as a product on which you lose money-but through which you also generate sales of other products in your mix.
Develop a niche and focus on it
Big Boys like Wal-Mart or Best Buy have a little of everything; while you can have a little of most things and everything of one or two types of products
Take care of your employees
Pay attention to your employees and treat them right.
Use technology to your advantage
Technology, now more advanced and affordable to small and large companies, provides the tools and power for small businesses to compete on an equal basis wit the big boys.
Present a very professional image
Small firms competing with big businesses will find that first impressions are vital
Emphasize the uniqueness of your products
People are often attracted to the idea of getting something unique from a smaller, independently owned business, but are used to the larger selection a chain store can offer
Give your store character
Most big retailers have the same look, often impersonal, in every city.






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