But the question is “How do you keep up with the endless competition”?
But there is another wise way i.e Instead of following your competitors and try to adapt or copy their features; one should try taking a more natural approach to outrun your competition;
Creating Your Own Blue Ocean
Big companies can crush their competition because there is hardly any competition for them in the market. But to reach to their level, you have guts and vision to plan and execute some drastic measures whenever needed. Here are some tips that will help you to give you a leap above your rivals:
1. Be willing to drop features
You can not and should not compete on every ground. You should only focus on your strengths and make sure that you are the best at what you offer. If you choose some selective grounds to compete, then it would be easier for you to make customers happy.
2. Add various features
This is quite obvious, but adding drastically different features to your products and services or even modifying the old ones means you’re changing your product into something previously unseen and change never goes unnoticed. The audience is always looking for something new and fresh.
3. Challenge assumptions
New markets are often born out of challenging entrenched assumptions about an industry, so it is quite important to keep an optimistic view on the industry to predict and assume.
4. Change market scope
It's high time to take an objective look at your company and its current competition and ask yourself “ What’s not being offered?” “What’s currently being offered that sucks?”. There’s a lot of scope and money out there for companies who correctly answer these questions and act wisely and timely on them.
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