Gee RanasinhaKEXINO · Better marketing for B2B businesses | Fellow of the Chartered Institute of Marketing | Adjunct marketing professor | Speaker | Recovering perfectionist

BUSINESS COMPETITION IS A GOOD THING! | MARKETING MYTHBUSTERS #b2b #marketing #shorts

Name: BUSINESS COMPETITION IS A GOOD THING! | MARKETING MYTHBUSTERS #b2b #marketing #shorts
Uploaded: 2023-03-06T13:00:10+00:00
Duration: 53 s
Channel: Gee Ranasinha
Description: Competition signals real market demand and keeps you sharp. Multiple coffee shops on one block prove customers want coffee, and the pressure to compete…

6 Mar 2023 · 1 min

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Competition signals real market demand and keeps you sharp. Multiple coffee shops on one block prove customers want coffee, and the pressure to compete forces you to improve faster than you would alone.

Chapters

Have you noticed how 10 high street coffee shops can all be full of customers even when they're located 5 minutes from each other? You would have thought there'd be too much competition for all of them to stay in business, right? It's the same with books. Browse the business section or the self-help section or indeed any specialist section of any bookstore, real or online, and every book is directly competing with one another. Having competition is a signal. It means you're offering something that's not considered weird for many people. Competition provides potential buyers with a kind of reassurance. Competitors force you to continually review your product quality or customer buying experience. They push you to innovate and to learn new practices, technologies, or processes. If your business is in a market with no competition, that may be because there isn't actually a market.

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