Your customers, or single-minded customers, need to be notified and remember the value added of what you offer them-they are money, they can be ignorant of what many business owners are doing , Each has a competitive advantage. The seafood supplier has not communicated that he is selling fresh salmon with a longer shelf life, so until the competitor threatens market share,
It's tough. :
Business, customer, term, guarantee, stock, material, delivery, information, training, small business
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The following is an excerpt from a book that creates a competitive advantage
By William * G * Flanagan and Jayney * L * Smith
Currency issue; April 2006; $ 19.95 US / $ 26.95 CAN; 0-385-51709-2
Copyright 2006 Jayney L. Smith and William G. Flanagan
Your customers, or single-minded customers, need to be notified and remember the value added of what you offer them-they are money, they can be ignorant of what many business owners are doing , Each has a competitive advantage. The seafood supplier has not communicated that he is selling fresh salmon with a longer shelf life, so until the competitor threatens market share,
There is also a possibility of View a lot of areas to offer Some areas do not have a table Realize how much your realization can actually be. Or, if you don't provide meaningful extras now, you may consider their adoption. They can be a significant comparative advantage. Consider the following points:
Terms. If you are a small or medium-sized company against category killers, you have flexible loan terms that a big man can not match For example, a lumber company in the northeast until Home Depot began to close I enjoyed a strong business with a little considerable competition. One-Box Home Depot Launched twenty miles away, this is just a semi-automatic version. Observers predicted that wood companies would soon become bulldozers out of business.
Indeed, it could not compete, not by price, against the purchasing power of home-depot. Wood is wood. So, it concentrated on hitting home depots that were vulnerable. It offered much--flexible credit arrangement for the most important customers--a small contractor who often lacks a line of credit from the bank. The lumber company did not have to drop the price to stay in business. It adopted a new comparative advantage.
I guarantee. For the participants participating in my seminar, their company is "the only one in our industry and offers a multi-year warranty on their products" We also accept buyers who want a guarantee.
The reason is usually the same: "If we emphasize the warranty, too many customers may utilize it."
That's a pretty lame excuse. Provide a warranty or If you have enough confidence in the product to guarantee it in the first place, make it a selling point. The statistics show that a very small percentage of customers in any business actually use the guarantee. However, the warranty takes a lot of risk out of purchase decisions and clinchs a lot of deals.
Inventory changes. One of my favorite stories about the turn of inventory includes a clothing maker that sold women's clothes to boutiques across the country. My competitor's and my clothes, which I heard and differentiated, are "wearable."
"In contrast to what?" I asked, trying not to laugh. He started talking about design, fabrics, cuts and more. I asked for his competitor, what we are saying, he said to shrug, "I assume the same thing... Or I sell my works from "
I asked him what his customer, owner of the boutique, cares most. "Whether it sells," he said. The shopkeeper's measurements are in stock. He answered that some did not do some. The shopkeeper of the shop to prove how it was measured around the inventory tell me how to suggest that I sell clothes. My point was that he should stop selling "wearable clothes" like everyone and start selling inventory turns. It is important to move the goods.
Note: We are proud of the backup you can do. Your buyers will know soon enough if they can not. As with any comparative advantage you require, make sure to deliver.
material. One client of a home improvement business selling siding knew that his product was "stronger and better" because of the materials he used. I realize that I was biased without passing on the know-how that I did not have. Asking a series of his employee questions, I found that the company's product has a higher wind load rating than any competitive product in the geographical market of many of his engineers Higher, higher load ratings affect the decision to buy. So if your material is stronger and gives the customer the advantage, yell about it in a way that is measurable.
You're delivering The same product as your competitor, but with better delivery service, you have comparative advantage. But how important is that? Decide on the company's promotion products. The Seattle-based company polled customers for the importance of on-time delivery. What has been revealed in the process is that the customer's value service is advanced, and the low tolerance is delayed.
Eighty-eight percent of customers have defined "on-time delivery" or better as being a schedule 97 percent of the time. Only 4% of customers accept on-schedule rates below 93%. Turn from manager to Compleat "We expect that we now meet the confirmation of energy-resources. If complete customers want their delivery, they get them.
It's information In business like war, intelligence can be valuable. In Business @ Thinking Speed (Warner, 1999), Bill Gates writes: "The most meaningful way to distinguish your company from your competition Put the distance between you and the crowd How to collect, manage , And usage information will determine if you can win or lose. "
You know what your competitors are doing and keep up with the trends of your enterprise if you try to run a successful business, and the basics of intelligence are listening to your customers. (Your own and your competitors.)
The role of intelligence, more competitive and more important than the business you are doing. For example, if a labor strike has stopped delivering critically needed materials, you can not afford to catch on flat feet. Or if the product price suddenly jumps or drops. Or a sink of consumer confidence. Or if new products developed by your competitors threaten your market.
In any business, the industry dies of unchangeable weather changes. Much of this "intelligence" is hardly unique. It simply becomes a smart business practice that can endure from experience. If you are a B-to-B supplier who sells to retailers, your customer's success, too, will determine how much you are. Through our experience, we have gathered the mistakes that are highly trusted and avoid customers.
SMEs are often in the dark about important developments in the industry. They lack the time, money, and expertise to collect and evaluate that information. But that doesn't mean that it doesn't matter. Consider the price they pay for the goods or services they purchase. Radical price shifts, or new products advance word that others become obsolete, will miss out on buying opportunities or will soon become obsolete
It's more sound and working to see things that are the same as customer trends. Word of mouth from your sales force is a long-established way of achieving this. However, in this era of the Internet, there are other effective websites, from email to websites that keep clients posted on prices and other industry trends
One of my original clients, Trend Research Institute, Concord, New Hampshire, analyze the market and economic trends and accurately when those trends change that business is interest rates from movements in industrial construction and agricultural markets Forecasting expertise in a wide range of fields, ranging from commodity prices to inflation.
Subscribers of the company's publication EcoTrends get significant bonus: discount on eco-charts. Using raw data provided by subscribers, EcoCharts tells you which metrics contained in EcoTrends are most relevant to a particular business. If Phase C has a tendency to affect your industry, you expect a downturn. Your actions may include stock and training reductions, avoidance of long-term purchase commitments, and deeper concentrations on your cash and balance sheet while Phase B's uptrend accelerates training Increase prices, consider external manufacturing, and open a distribution center. This kind of information can provide companies with a strong competitive advantage.
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