What are the strategies you need to adopt in general, When a new Business outlet (similar lines) is Opened adjacent to your business outlet?

Good Day!!!

Agreed to Mr. Hashmi......... Generally the management can:

1- Increase the product line (enter into the new market segment)

2- Create & execute new services which appeal to customers, e.g., Loyalty cards or promotions etc.

3- Provide an outstanding level of customer service that your competitor cant offord easily.

Before opening up any new business we have to do SWOT Analysis

See Strength of your buisness

Look into weakness of your business comapred to competitor's

Evaluate what are Opportunities Avaliable

Consider what could be the likmely threats to your business

AGREED WITH MR.ALAMGIR HASHMI,,,,

Always follow their strategies copy them and advance,donot waist time in what we call price wars,conserve your energy in retaining your customers and attract new customers,use social media,customer loyalty programs....etc.

Agreed with the answer given by  Mr :. Hashmi

Know any types of product will put him in this region The values ​​of the right price for this area Learn about the culture of the region You must know what kind will address whether a man or a woman and a child or a boy

Focus in building CRM and effective Customer Service

diversify and focus on promotions.