How do I compete with businesses that can offer similar products/services at a lower cost?

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Think about drinks, what number of choices do we now have?

How do firms compete in such a aggressive market?

Example:

According to business insider, roughly 94% of the world inhabitants is conscious of the pink & white emblem of Coca-Cola.

How does Cola-Cola keep forward of the gang?

Coca-Cola focuses on promoting an summary constructive idea corresponding to happiness, household, and sharing, slightly than making an attempt to promote a drink.

Most of their advertising and marketing efforts are centered on the expertise and the approach to life related to its model, slightly than the soda.

Colca-Cola sells “happiness” in a bottle.

competing with big brands - coca cola

We discover a related technique with Red Bull.

Red Bull’s is NOT centered on selling an power drink, however on making a model that represents the energy-packed life-style that their viewers loves.

So, to reply your query, how do I compete with companies that may supply related merchandise/providers at a decrease price?

You want a differentiation technique.

Stop focusing your gross sales efforts on the “commodity” you’re attempting to promote, give attention to what your product delivers to your clients, and make this the main focus of your advertising and marketing efforts.

#BeBusinessSmart

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Durodola Bolaji

A network marketer, entrepreneur and investor, I am happily married with kids. I reside in Ibadan and run a company in Northern side of Nigeria. I am currently earning passive income working from the comfort of my home using the Internet, email, and the telephone with an incredible sense of security and peace of mind. I've been earning a full-time income from home online since 2014, mostly within the network marketing and direct sales industry, and in recent years.

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