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The Competition

What do you have to know about your competitors?

Competitors are those people selling products or services that are the same or similar to your offerings. Competitors want the same thing you want: customers.

You are in a race, a competition, with your competitors to get customers who usually only buy a product or service from one place.


Business Rule #17

If someone buys from one of your competitors, you lose, and the competitor wins.


Secondly, to compete and beat your competitors, you have to understand what your competitor is selling so you can offer a better product—one that meets customer needs better.

So how can you beat the competition?

  • Offer the same product at a lower price
  • Offer the customer more benefits for the same price

  

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