Here's How to Beat Your Competitor at Business

1. Redefine your Competitor
It is important to be cognisant of your contenders before entering the world of business. A Company is labelled as your competitor if it sells the same products as you do. Keep track of the business strategies opted by your fellow competitor and analyse how it can affect your business.

2. Powerful and Impressive Designing
This is the factor that should be the key to distinguish your product from the others. Fascinating branding always leaves an impact on a consumer’s mind. The classic ‘half bitten apple’ logo is the primary cause of Apple’s successful sales as it makes the brand more appealing.

3. Remain Faithful to Customers
Identify the target group and stay loyal to them. Keep asking your customers for constructive criticism and suggestions. This will boost your reputation in the market as well as help your brand grow.

4. Practical Discounts
The top strategy used by brands to attract customers is providing high discounts. It compels new customers to buy your product and amplifies your reach. However, focus on other business strategies to multiply your sales because frequent discounts make consumers question your authenticity.

5. Healthy Work Environment
A happy workplace is the catalyst to employees’ productivity. Sustaining a cheerful environment in the office should be your top priority. Hold regular meetings to address any problems and be considerate of each other.

6. Ambitious Customer Care
Provide the best customer service and cater to your customers with utmost care and patience. It is alluded that the customer helpline is available 24/7.

Comments

Past makes present: Elon Musk 's anti union tweet

Who would have thought that a tweet made in 2018 will cause hassle in someone’s life in 2021. We are talking about none other than Mr. Elon Musk, CEO of Tesla, Inc. He needs no introduction but more than him, his tweets are famous. Elon Musk has been seen tweeting sharp and blunt statements very often but this time he faced serious repercussions as well. Swami Vivekananda rightly said that the present is determined by past actions. It all started in 2018 when Elon musk is his tweet, wrote: “Nothing stopping Tesla team at our car plant from voting union. Could do so tmrw if they wanted. But why pay union dues & give up stock options for nothing? Our safety record is 2X better than when plant was UAW & everybody already gets healthcare.” This tweet came in the limelight in 2021 when National Labor Relations Board found it oppressive and threatening. As per NLRB the tweet by Mr. Elon Musk was unlawfully threatening the employees with the loss of stock options if they decided ...

Significance of the “Developed Country” Tag for India

By Xeena Mehta The officials of the United States Trade Representative (USTR) uphold a list of countries that categorises countries as “developing”, “developed”, and “least-developed”. Countries that are classified as “developing” have permissions to export certain goods to the U.S. without being hit by heavy legal tariffs that are bind to be imposed on goods from “developed” countries. The “developing country” tag was originated by U.S. Trade Act of 1974, to aid poor countries develop faster. World Trade Organization also acceded to grant trade benefits to countries that were classified as poor. If noticed we can see that about two-thirds of countries that are members of the WTO classify themselves as “developing” countries and avail fore deals. Any such classification of whether a country is “developing” or not is entirely objective. While the economic progress achieved by India and China have achieved over the last few decades is seen as a valid reason to get rid of their s...

Changing Environment For Local Business In Sri Lanka; Government Initiates The Revolution

Local industries and businesses are the backbone of the economy of any country. Additionally, Sri Lankan Government defines a local company as one with a minimum ownership of 51% of a Sri Lankan. To help these companies grow, the Sri Lankan Finance Ministry has proclaimed a circular enlisting the priorities to the local companies. Moreover, this move from the government may bring some salient alterations in the condition of the local manufacturers. The government has also come with up steps that will augment the local industries across the different domains. These domains include IT sector, construction, etc. The circular, as issued by the government includes relevant documentation regarding sourcing of resources and products. Additionally, sources point towards the fact that the government is hoping to extend support to the domestic sector and help them grow. Besides, the major focus is on the three sectors- IT software and hardware, construction and furniture and allied products. Pos...

Entrepreneur Digest

Search This Blog