Business

How can SMEs overcome overwhelmingly competitors in the price war?

Have you ever been selling goods immediately, encountering competitors undercut. Each person is reduced, exchanged, distributed, free to fight. Finally, there is no one who wins the price war and get a small profit back. Follow and guarantee that you will leave your competitors without seeing dust with 5 plan.

1. Differentiate products or if you can’t do it, find the strength of your products and services

This plan is guaranteed for long-term success. Product and service features give us an advantage over competitors Therefore, position your products differently than your competitors before for the products and services always. But just having the strengths is not enough because time passed Competitors have to lick.

2. Customer centered

Think first what customers want? What does the customer agree to pay? Regardless of our business strategy whether communication Channel of product sales And the product itself must meet the problems and solve problems for customers Better for each person Importantly, do not think of what the value of the customer wants, what problems, to ask for information.

3. Set the price according to the value of products

By setting the product price according to its own value tells the customer that this product is not a normal product like a competitor It’s more special than others That will make your product stand out from other products in the eyes of the same target customers. Therefore, to set a price higher than competitors Or competitors will reduce the price is not a problem anymore.

4. Find cheap goods and cost low to sell

If we have cheap items and “Cost must be low” can replace competitors’ products We can compete with competitors’ products as well. Use different brands from our competitors and other brands. Limited edition To compete with competitors only. The reason is very ingenious. This is done to change the expectations and attitudes of the target customers that Cheap products Must be a useful product with less features If cheap products, our cheap cost can replace competitors’ products Competing products will look less valuable and that makes our original products stand out even more.

5. Sell solutions to customers, not products.

Because it’s unlikely that new competitors, cheap costs, will compete for market share. Makes the products that we sell as normal. Therefore, overlook the product. And focus on meeting customer needs By offering products and related services to customers as well (Such as delivery service). The added service reflects customers’ awareness that our brand really cares about its customers. The competitors come with a low cost on products can not compete with us.

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Categories: Business

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