Strategies to fight competing market world.
The market world are faced with a lot of competitions. Competitions that keeps sending organizations packing, some liquidate, some close-up while some are unable to meet-up with the demands of the final consumers. It is only those who have the required strategies can survive and compete with their opponents and come-out big.
Below are the strategies to fight the competitive market.
-Weakness. Study the weakness of your rival, see where they are weak, capitalize on the weakness, work on it build your organization up on that area and people will find you as the best. In a part of the African a telecommunication network firm once spring up and decide to design their product in only 3-4 states of the country. They thought those 3 parts of the country are where the wealth of the country lyes, they see the 3 states as the treasure porch of the country but some months later another giant telecommunication firm sprang up, spread all over the 36 states and all aver the nooks and crannies of the cities. They engulf everywhere reaching out to over millions of people and hence, they hijacked the most populous masses. You too can work on the weakness of your rival to survive the competition.
-Strength: The latter aforementioned telecommunication firm were able to stand due to the strength in their network services, they could have fold-up due to the arrival of the other but due to the strength they built on their networking service, customers still patronize them.
Whatsoever your business or organization is, build a super, unbeatable, incomparable strength on the product you are given out.
Guiness, nestle, becks, Toyota, ford are many but few of those company with indomitable strength. When the strength of your organization is so strong that no other opposition can beat, then, people will still find your products as favorites in and outside your station.
-Branding: I so much love this factor because, the smart ones realize it’s magic tool to overcome competition. Sometimes back in Nigeria, there was a great competition in food companies (makers of biscuits & chips), there were a lot of companies making these fast selling foods. Children, kids, teens, adult and even the old ones find pleasure in taking it with milk and other beverages. Now it’s time for the survival of the fittest, these companies comes out with different types of biscuits, different name, size and taste.
But there was this smart company who see what others don’t see, I call it re-branding. They thought they need to change how biscuits were made, they realize the need to learn new skills and leave the old skills. They thought the market field is full of same old skills then they introduced something fantastic: they ask themselves “ who are our targets” of course they mostly comprise of the students, kids and teens. “What do they like most”
Then after some times of questioning and answers among themselves they acted fast. They came out with a new design, shape and skills; which I call re-branding.  They produced the biscuits with different animals such as lion, tiger, parrot, dog, cat e.t.c. not that alone their packaging was so strong that the kids loves the inscriptions on it. They includes the diagram of teddy, Winnie pooh, tom & jerry, barley, turtles and guess what, they sold ten times more than ever and were able to conquer the competition in the market world. Skills are still very much available, if you can think, ask question, visit workshops and attends seminars even make research, then you will learn a new skills. Be determined to get a new skills which I name re-branding.
-Advertisement: One of the African adage says advertisement is the concoction of business- Nigerian adage. Companies, organizations, cooperation e.t.c. see this as a way of promoting their product and thus, reaching many people to tell them about them. They see it a fighting tools for the competition in the market world. Advertisement is another form of branding if only you can use it wisely. Financial institutions like skye bank, intercontinental bank, bank PHB, telecommunication giant like MTN, GLO, Zain, foods & beverages companies like coca-cola and  Nigeria breweries all in Nigeria are so good in using this tool- advertisement, they don’t just see it as a mere audio-visual gadgets, they use it wisely by adding branding into it.
They look for what is lacking in the society, they look out for people problem, they find a solution to it and come out with their advert revealing the solution.
Skye bank for example noticed the emotional dullness in people due to the economic melt down, people were confused and see no reason to keep planning for the future. Skye bank quickly step in with the advert which gives a solution and a hope to the society, they source for a song people would like so much and they got it “ACUNA MATATA” I hope you know the song too the sound track of a famous cartoon “THE LION KING” people were relieved, they see the reason to keep going as the song says don’t worry for the rest of your days and as they were saying that to people, people were banking in their institution. THINK WISELY.
-Give backs: This is just a way of  saying thank you to people or your customers. Give backs simply means appreciating the patronage of your customers by giving back to them. This is often done in form of promotion. Put smile on people’s face by giving back to them. this is very common but only few people are able to do it right. Some companies do this at a time they have hit their target, some do it at a time when they need money for a particular projects. Which ever way you want, just make sure you reach back to your people by giving. 
     

for more info on business, visit,
https://www.onlinebiztutor..com