What are the most important practices to maintain a competitive product in the market?

I believe the most important points you should focus on are:

1. keep enhancing you product.

2. study and analyze  your competitors.

Take the right product/good/Service to market at the right price at the right time to the right target market. In order to do that you need to know who and what your good competition is and your bad competition is and if they are your barriers to entry or you are theirs. Because you are going to need to innovate as markets are not constant and the one who fails fast is the one that survives longest 

Quality and external appearance of the product to attract customers and keep up with the times marketing of the product

The most critical factor for maintaining 'a Competitive Product' in the market is preempting competition direct or indirect from making your product irrelevant. So change before anybody else in tune with the changing Consumer needs & aspirations. Summarizing below few points:

1. Preempt & change before anybody else

2. Understand Changing consumer attitdes & behaviours

3. Leverage 'Technology' in enhancing accessibility, availability & affordability of your Product

you have to make a schedule of your product review and product survey, you should know when you need to upgrade your product because from time to time specially in electronics, new peoducts are being introduce.you need to cope in this fast phase improvement of products

To bring a product at the top takes great effort, but to maintain the top spot is a greater challenge. Many companies fail to stay at the top and a recent famous one is Toyota. There would we several factors to maintain momentum of a highly competitive product and I guess the best example is Pepsi vs Coke. Knowing your customer/consumer and continously hitting them with reminders Brand positioning/pricing to be seasonal based on demand Tactical planning I.e. Keep the product exciting with offers n activity Product innovation and minor enhancements Lastly and more importantly keeping a watch at competitive activity Like I said, it also depends on a product itself and is not just one factor. Regards

Competitive advantage is the leverage that a business has over its competitors. This can be gained by offering clients better and greater value. Defined the seven ways in which an organization can achieve competitive advantage over its!

1.     Become more competitive.

2.     Increase sales and develop new markets.

3.     Reduce costs and become more efficient.

4.     Improve the skills of your workforce.

5.     Use technology more effectively.

6.     Reduce waste and improve quality.

7.     Respond more quickly to innovations in your sector.

https://www.infoentrepreneurs.org/en/guides/understand-your-competitors/

https://www.infoentrepreneurs.org/en/guides/best-practice/

Development of the process of packing from time to time (the color of the product cover be processions of cultural colors) (multiplicity of flavor of the product)

If they are food

Depending on the product, there are many ways