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These 4 Strategies Will Help You To Succeed In A Competitive Market - Business - Nairaland

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These 4 Strategies Will Help You To Succeed In A Competitive Market by sholoz(m): 9:15pm On Jun 11, 2018
How much time do you spend on your business? Are you really focusing on every opportunities you have to grow your business? Wouldn’t it be a perfect thing to spend more or all of your time building your business to succeed in a competitive market? Growth don’t happen overnight and any business that wants to outlive competition and succeed, needs to put in the best and make every opportunity count.

Successful business people didn’t reach the heights they’ve attained based solely on luck and second guessing. They explored many opportunities for business growth.

BE ORIGINAL IN YOUR NICHE

Originality does a great deal of work in business sited in a competitive market. I believe it to be the best tool for a successful start-up. I know you must have had one or two meals of INDOMIE NOODLES. Have you noticed the uniqueness of their taste? Not only do they have a very unique taste, they also have a very unique brand. I am doing a detailed article on Indomie Brand so keep your fingers crossed as it will be published soon on this platform.

Every start-up should be original and unique with the products they are throwing into the market. A start-up owner that needs to succeed have to put himself/herself in his/her customer’s shoes. What type of product would you want your business clients to provide you with?

NEVER TAKE YOUR CUSTOMERS FOR GRANTED

Make your number one priority to always keep yourself on the customer radar. Always listen to and change with customers’ needs and preferences. Never ever take your customers for granted or disregard their feedback. Taking your customers for granted is a surefire way to stop growing, or worse, go out of business. If your services are not even in consideration by your customers, your business will not survive. Focus on doing the right thing, and your customers, employees, and other stakeholders will all have an interest in seeing your company weather whatever unpredictable storm might come your way.

CULTIVATE YOUR REPUTATION FOR EXTREME TRUST

Don’t be afraid to fail because whether you like it or not, success depends on it. However, as long as people trust you and your product, your business will flourish. No industry is perfect, which is why you should always be thinking about improvements.
Do what your competitors are doing, but better. Find out what customers are complaining about, and fix it. If you keep digging, you’re bound to find something to advance within your industry.

Tap the below webpage to view the fourth strategy that guarantees your success even in a competitive market environment. Also, do not forget to leave your footprint so we know you dropped by. Thank You!

https://www.youngleadersarena.com/small-business/competitive-market/
Re: These 4 Strategies Will Help You To Succeed In A Competitive Market by cnonyechi(f): 9:17pm On Jun 11, 2018
Highly insightful

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Re: These 4 Strategies Will Help You To Succeed In A Competitive Market by Bestnigeriabusi(m): 1:00pm On Aug 01, 2020
Some of the terms used in the matrix are explained below:

‘Fast grow means grow business faster than the rate of growth in the market

‘Grow with the industry’ means grow the business at the average rate of growth in the market

‘Focus’ means continue the product in the same market.

‘Find niche’ means develop a small segment of the market for the product

“Retrench’ means cut expenditure and reduce investment.

“Renew’ means introducing new and improved features for the product

for the complete article, click >>> https://www.bestnigeriabusinessplan.com.ng/competitive-position-industry-maturity-matrix/

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