Friday, December 4, 2009
Posted by Karla Marie David Agarem at 1:22 AM
Competition in business is constant. It is evident in all business, whether small or big ones. This so-called competition provides businesses, especially the persons behind that business to use their creative side... to do something, to be able to stand out among their competitors in related business industry they are in. This is whenadvertising and product differentiation play a major role in the life of a product.
Advertising, with consideration to the business' sufficiency of fund must think of its cost, if it can be afforded, then why not try to advertize? Through media, such as TV and internet, advertising could take place! And it will help a lot to promote your product help your product be recognized!
Product differentiation is another competitive strategy. Because of various product of the same kind and use, product differentiation provide an opportunity to have your product possess uniqueness among the other products in competition. Thus, it may pull consumer attention and loyalty eventually if it become effective.
These are only few of those things business may consider as strategies in competing in business. Low cost is another. But what is important is that choosing a business strategy requires deep understanding of its cost and benefit.