The ability to identify and analyze all actual and potential
competitors to your business is key to surviving in a fierce market place,
keeps you ahead of them and helps you develop strategies to overcome them.
To analyze its competitors, a company must identify its
competitor’s strategies, objectives, strengths and weaknesses and then device
its own strategies to overcome them. It must also have a clear understanding of
the environment it operates in. Understand that the environment you operate in
is similar to that of your competitors. Learning how to overcome the challenges
in your business environment is a step towards overcoming the competitor.
Companies are also increasingly being faced by the threat of
buyers growing bargaining power and suppliers growing bargaining power. As such
companies must spend time to research and understand its actual and potential
customers, what they expect from them, how to exceed their expectations as well
as what influences their buying patterns.
Exceeding customer expectations is no mean feat. In today’s
business world, customers are increasingly knowledgeable about product choices,
service standards and above all consumer rights, hence the increase in buyers
bargaining power. Exceeding customer expectations has become a must do for any
business that is serious about gaining market share, loyalty and customer
trust. You must understand that if you are unable to impress potential
customers and keep your current customers loyal to your brand then you have
already lost to the competitor no matter the strategy you choose to adopt.
A smart businessman must understand that the customer is the
reason why he is in business and not the competitor however competitors need to
be managed if we are to gain and maintain our market share favorably. If the
product offering and service delivery is excellently superb, then your
competitors will naturally have a hard time keeping up with you even if you
have not deliberately prepared an attacking strategy to defeat them.
To his end I have packaged the course PROVEN COMPETITIVE BUSINESS STRATEGIES
This course is designed to help you:
·
acquire practical skills that will enable you to
understand what customers expect from you,
·
exceed their expectations on service delivery,
·
understand what drives their behavior when
buying,
·
understand how the environment you operate in
can affect you and your competitors,
·
get a clear understanding of who your competitor
is and what they may be up to,
·
Develop strategies that will help you attack the
competitor and effectively defend your flanks.
If you are serious about rising above your competitors, then
this course is compulsory for you.
Cheers,
Valentine Okolo
