HOW TO WIN THE COMPETITION

Choose a competitive advantage Competitive advantage is the advantage that makes the business more prominent than other competitors, which is essential for the success and long-term sur

TOPIC: HOW TO WIN THE COMPETITON

TABLE OF CONTENT

II BODY

1. DEFINE YOUR BRAND

2. CHOOSE A COMPETITIVE ADVANTAGE

3. CREATE A CUSTOMER DATABASE

4. COMMUNICATE ‘WITH’ AND ‘TO’ YOUR CUSTOMERS

5. EXCITE YOUR CUSTOMERS

III CONCLUSION

I.Introduction

Whether you like it or not, competition is always there There will be plenty of businesses just like yours, pitching for the same work and fighting to survive With

so much fierce competition, how do you beat them? How do you get noticed above everyone else and ensure you're winning the clients? There are many ways in which you can beat your competition From focusing on your customer service to making the most of the search engines, there are lots of different tricks you can use

to be the best The following tips will help you stand out from the crowd

II Body

1.Define your brand

This is a first step to develop your brand strategy You will start this process by answering some questions : What does your business stand for? What’s different about your business in comparison to other businesses in your industry? What do you want to be known for in the marketplace

You see when new competitions enter into your line of business, whether you like it or not, be prepared to loss some market share I know that was rather harsh, trust me, it’s for your own good No one business can appeal to everybody

So your best response is to define your brand and consistently communicate your own Unique Selling Proposition The emergence of competitions clearly separates the men from the boys It is the businesses that don’t clearly stand for something that often get eaten up by competitions If your business doesn’t stand for something, it will fall for anything.So when the competitions showed up, after panicking and responding wrongly we learnt our lesson and began to focus on our brand

2 Choose a competitive advantage

Competitive advantage is the advantage that makes the business more prominent than other competitors, which is essential for the success and long-term survival of the business.Businesses can create competitive advantage in different ways: either choose a market that is different from the competition Businesses need to

choose a competitive advantage in order to win the competition and require that the business meet the following requirements:

Firstly, the business must determine exactly the competition From that point out the direction for businesses in creating competitive advantage

Secondly, if the business wants to create a competitive advantage, it must

choose the appropriate competitive weapon There are three main competing arms: product, price and service

Product quality becomes a competitive tool of businesses in the market

Product quality reflects the satisfaction of consumer demand, leading to faster consumption and increased competitiveness for businesses

The price of the product represents the quality of the product Consumers will evaluate the quality of the product through the price when they face to the same products

Service is the third competitive weapon that helps businesses win competitors

If good customer service will create positive psychology for consumers

3 Create a customer database

When you have a new customer, you sell the first product for them and you will have oppotunity in the next time If you build a good relationship with the

customer Good service and management will help you attract more and more customers and your revenue will grow as your customers grow Setting up a

customer database is a tool that can help you do this job well There are Several ways to collect customer data :

1.Customers voluntarily leave their emails when visiting your website Content marketing is a trend that marketers are interested in, creating useful content for customers is something you should decide to do early, It increase customers from searching and revenue visiting your website

2 Customers voluntarily leave their emails when visiting your website You can also provide some useful documents related to your product or service, besides the customer registration for Receiving the emails regularly, when customers want to dowload documents, you can ask them to fill out their full name, email, telephone number and so on

3 Collecting customers data used your company's products Many companies either forget to take care of their customers or some products distribute through intermediaries such as lipstick, candy, milk so they will do some campaigns for users to send message or email to the company to accumulate points or join the prize

4 Communicate ‘With’ and ‘To’ your customers

Businesses that use a one-way stream of information to communicate with their customers are missing out on a key engagement marketing ingredient: The power

of feedback.Why listen to what your customers have to say They will tell if you

there's a problem with your products, your service, or some of the processes used

by your company In addition to listening to those who call you, e-mail directly, or chat with you in person, there are four ways you can "listen" to what your

customers have to say:

Open feedback: In each of your e-mail newsletter campaigns, ask people to provide their feedback about the content in the newsletter itself or your business in general

Transactional feedback: After any transaction, you should follow up with the customer to ensure they've had a good experience with your product and service Satisfaction surveys: What five questions do you have for your customers? For businesses that have a subscriber base or have customers that shop regularly with you (a grocery store, butcher, etc.), send one question per month to your list,

alternating between the five This way, you can continue to get regular feedback and fresh data

Monitoring social media: Twitter and Facebook are great tools for getting

customer feedback Keeping an eye on social media channels is a great way for any business to watch for trends or individual problems

5 Excite your customers

There are many ways to excite your customers to buy, depending on the circumstances, depending on the time, such as: price, quality of products,

advertising, services attached

First of all is the selling price For businesses, the direct selling price creates the turnover of the business and the profit of the business For customers, the price

is always the first indicator to evaluate the benefits and costs they have to spend on products and consumption of products Therefore, businesses should offer a

reasonable price, not too low and not too high In each case, the business will give the appropriate price policy Often in business competition will offer the price lower or equal to the competitor

Product quality is an important factor Because quality of the business’s product is the good to keep customers long purchase and get the trust of customers Business’s customers will feel that buying a business product is worth the money they spend and it is important to create satisfaction and confidence in the business

Promoting sales, promotion, exhibitions are aways to help businesses

encourage customers to buy more business products, attract more customers

Business services, such as shipping support, packaging, free installation, free maintenance, free warranty

III Conclusion

Business is a game and only the team with the best players will win To win the competition will require everyone’s collective effort It’s not just a task for the marketing department or top management; it’s everyone’s responsibility So as the leader of your business, it’s very important you enlist the support of the whole organization once you’ve agreed on the strategies to adopt in dealing with your competitions

References

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GROUP 7 : ENGLISH 4 – 17102ENTI2411

No Student Name Job Mark

(Leader )

Mark ( Teacher )

1 Đặng Thị Lâm Oanh

15D120244

Leader, Slide, Word

2 Nguyễn Thị Thủy Trâm

15D150127

Define your brand

3 Phí Thị Thơm

15D150263

Choose a competitive advantage

4 Đào Thị Ngọc Trâm 

15D150057

Create a customer database

5 Vũ Thị Chúc

15D130007

Communicate ‘With’ and

‘To’ your customers

6 Cao Thị Hoài Thu

15D150053

Excite your customers