Strategy to exit the competitive market in our business
Hello friends.
This time I want to present to you a very simple and easy post, where my goal is to share with you a very personal opinion that I have about applying a strategy to get out of the competitive market that may exist at the time of having to sell a product in our commercial establishment.
It is no secret that when we talk about commerce it is because we are referring to a commercial exchange, that is to say, commonly the stores we know sell some product of interest to most people, and these people have to pay Fiat money for the product.
There is a philosophy of the seller of wanting to sell the product that sells the most, but imagine for a moment that all sellers think the same, if all sellers want to sell what is most in demand, then it generates a strong competitive market where sales become strong, because everyone sells the same thing.
From my perspective, taking into account that I am not a merchant, a strategy can be applied so that anyone who wants to get out of this strong competitive market can apply the following:
As a consumer I have realized that the business that goes out of the ordinary, that is to say that sells products that are not in high demand, sometimes end up selling more than businesses that only sell products that are in high demand. To give an example: when I had my Fiat Siena, I had to travel out of my city because spare parts for that brand of car are not in high demand here in the city where I live, however I noticed that the few stores that sold a few spare parts for that type of car sold a lot, since there was a small number of users who had those cars and were the ones who ended up buying in those stores.
The above mentioned is simply a mere example, however this applies to all types of products, when we decide to sell a product that supposedly does not sell much, in the end we are going to sell it because we would be leaving high competition from other commercial premises.
It is important to mention that this is not financial advice, however it is something that I have thought about and I don't know if it could work for the many who have their own commercial premises and are dedicated to the business world.
hello @carlos84,
some time ago a while ago I heard that people don't like to be sold to but customers love to buy, this tells us that if a retailer strives to provide solutions, he can find niche markets that are profitable on a small scale and from that niche market make more money than a big shop.
Hello friend, certainly all the considerations you have given are very explicit.
Greetings and thank you for your positive comment.
Greetings my friend @carlos84. I do not take away the reason you have to be innovative in a commercial market, because when we enter the world of business or trade we will find many strategies to implement, we always try to start with what has more demand to be able to make us to our own capital and start our own business, But as you say we can work with things that are not very new that in the end can be more innovative than those that have more demand, I from my point of view I would try to design a business with lower costs and lower investment, offer a quality service or product to the customer, manage a proper care where I can make the customer fall in love with my service or product, ami think. Thank you for your very interesting article, it calls my attention to business.
Fascinating your proposal @sandracarrascal, it's always good to try to make the client fall in love and be the best options that exist in the market.
Greetings and thanks for commenting.
Hello @carlos84
Despite what you say, I feel that competition will always be there, but it is true that when a store sells things that not everyone sells it ends up being a kind of reference, maybe it does not work in all areas, a study would have to be done to see if it really works everywhere, I guess.
Certainly my friend, I think that not in all cases it will work and I think that is part of the risk to be taken, the simple fact of investing in business already has its risk, but as the saying goes he who does not risk does not win.
Greetings and thank you for your contribution in this comment.
excellent @carlos84 your point of view, the truth is that when a product is in demand and there are many people selling it, in the end there will be sellers who will not sell as expected, but if it is a product that is not in demand and there is only one store that sells it, the market is cornered and all buyers who need it at some point have to get there, it is very good what you say.
Excellent friend @ajfernandez, I am pleased that you understood the message of this post, I think that in the not too distant future when I have a business I will take this into account.
Greetings and thanks for your comment.
Hi @carlos84! How are you friend?
There is an action called market study. It seems to me that it can apply in situations like the ones you have mentioned, I think it is about knowing the supply and demand in a certain area in order to validate whether it is commercially feasible to work in that jurisdiction. I also think that it allows us to know the tastes and intentions of potential clients as well as when will be the most advisable moment to buy and sell. Greetings, thanks for the info and the strategy suggested by you.
Excellent friend @nachomolina I find it very good that you give that interpretation to this post, because with a market analysis can correctly interpret the competitive market that is coming in our business at the time we want to invest.
Greetings friend and thanks for your contribution.
Sure @carlos84 I see that it is a good time to think about buying some crypto. However, taking into account the experience of previous years, perhaps BTC still needs to fall a little more and perhaps some currencies such as STEEM and other similar blockchains that work with POB should fall to a minimum. This tells me that in the next few weeks we may have a STEEM at 0.18 or 0.15 and that barrier would be ideal for the purchase. Greetings friend!
As an enterprener I suggest first we need to study our compitetors how much worth they are having then our products is upto the mark as compare to them or not then we can think of exiting by making good profit. Like all startup do.
Thanks so much for commenting positively on this post my friend.
Greetings and thanks for your contribution.
Greetings friend @ carlos84. I share with you your point of view on the market analysis you just described. But we must also keep in mind a market study because if you go for example to sell spare parts for Fiat brand cars and there are very few cars in your environment, you will not have the expected sales. Now if there is a potential market where there is enough demand and there are few offers, that would be the ideal one.
Thank you very much for sharing your publication
That's right my friend @dgalan, we must also consider the number of users that demand our product and thus evaluate its feasibility.
Greetings friend and thanks for your contribution in this comment.
Certainly, sometimes it is better to sell products that are not very commercial in the sense that you do not get them everywhere, because when you focus on very popular products you often have to lower prices too much to compete with the rest of the sellers which brings losses, but also everything is very relative and depends on the type of product, market and type of customers to whom it is addressed. Thanks for your appreciation
Hi friend @emimoron thanks for commenting, best regards.
This is a brilliant example, I haven't thought about it, in this way. Thanks for sharing this wonderful article with us @carlos84
Thanks to you my friend, greetings and thanks for your contribution.