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1. Study the defects / customer complaints of existing products ( Site Survey of existing products )
2. Do Proper R & D to reduce the defects
3. Provide equal quality products ( not too high quality as this may increase the cost)
4. Reduce the margin for profit to gain more market cover ups. ( AS start up )
5. Invest money in Marketing.
6. Higher lesser staff but highly experienced one.
7. Keep sufficient reserves ( as your business may not pick up initially)
The key advantage that a small, new player has against a large, established player is nimbleness. Big corporates are very slow to react to changes in the market, or internal innovations.
I was once hired by a small player to defeat a large one. Well before the end, the large player stopped publishing press releases. Whenever something happened, we could get the story out to the press, published and discussed, and have the press moving on to the next story before the big player could even get a press release agreed internally. News agencies were carrying our press releases verbatim, bylined as their own story, because we wrote them in their style, properly balanced, and gave them permission to do that. It meant we had total control of the subtleties of the situation.
A small, nimble player can change in hours what a big corporate will typically take weeks or months to change.
Of course, if the big player is also nimble (rare) then you would be attached to another object by an inclined plane wrapped helically around an axis. :-D
Do extensive research on your competitors. Know what they lack or have failed to provide or do some bench marking. You capitalize on their weaknesses or develop their strengths and make it your own.
Action shopping differently.To smarten outside of the company.Establishing the principle of the staff that we sell servants.
1. Reduce the output value2-commercialize the product in the best way3-lowering earnings ratio4. produce a product or service with high quality
Agree on experts answers. Thanks for your invitation.
