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Sir, its an open market - if he has done & taken this step . Like rightly said - Have we worn bangles (No) - So, let us be ready for a fair competition . It is always healthy for business to grow & shows there is a demand for the product in question .
competitor and competition over customers is not new in any field you are operating in.
Simply make sure your entire customer journey (intended at any point of touch with your own customers) is performed at the very best.
If you are not yet looking at big data, then it could be the right moment to do so.
You may find terrific inside and bring new ideas on the table by just having more data to look at.
an interesting speech on how big data works at www.ted.com
SINCE IT IS YOUR COMPETITOR SO OBVIOUSLY YOU HAVE THE SAME TARGET AUDIENCE,EXCEPT YOU HAVE TO LOOK WHAT EXACTLY YOUR COMPETITOR WANT TO GET FROM YOUR SHARE IS IT THE CAMPAIGN SHOWING THEIR QUALITY, PRICING, NEW OFFER OR A NEW PRODUCT? THEN YOU HAVE TO TAKE A MOVE, NOT RIGHT A WAY BUT AFTER THEIR CAMPAIGN IS END TO TAKE YOUR TIME AND THEN YOU TAKE THE LEAD WITH YOUR CAMPAIGN FROM DIFFERENT PART OF THE MATRIX.AT THE END EVERY CAMPAIGN YOUR COMPETITOR DID THEY DID TO OVERCOME YOU AND YOU HAVE TO BE READY AT ANYTIME FOR THIS AND YOU HAVE TO BE ALREADY PLANNED FOR YOUR REACTION BUT THE BEST THING YOU WILL DO IS TO TAKE A LEAD AND LEAVE THE HEADACHES FOR THE REACT TO HIM.
With the same target market it is not surprising. Copy and Paste is a huge compliment. Finally, it has been said many a time that keep your friends close and your enemies closer, this is the very reason for that. If you keep them close, you know what they are doing, it is not a surprise and therefore if you are capable, you can plan and manage the impact of their marketing.
They are putting campaign because they were poor in their service, so we must give more and good service to the customers with out making a another campaign by losing our money. if we go with that a new campaign we will lose our quality and customer satisfaction & customer also lose trust on us.
In my whole work experience, customer goes to the company where he/she gets best & better service and loyalty of the employer showing towards them and they will not go for cheap offers given by rival company. Because once customer earns trust from us they believe us from any other parties.
Very simple. we will reciprocate the same to our competitor.
Create a new campaign targeting their audience/main product but offering a better deal/better terms.
