Every company operating in the market undoubtedly tends to have its own character in marketing its products in order to preserve the identity and image of its brand among customers.
Competition originates among companies that have the same commercial field and the same characteristics in the product or service they provide, so the relationship between them is purely competitive, and each of them seeks to prove itself in the best way to attract the masses. Their diligence is clear and the continuous endeavor to consolidate their reputation of each of them is noticeable greatly. Competition among companies is very natural, but this competition must be as honest as possible so that it should not be tainted with defamation or slander, and it must be fairly characterized by integrity, honesty, and respect for the competing parties.
Competition is divided into two parts:
First part: Direct competition
This type of competition appears among companies that have the same characteristics and provide the same services or products, and this type is the most prevalent.
Second part: Indirect competition
This type of competition is represented in companies that do not have the same products, but their products can be replaced with the ones of competing companies. An example of this type is transportation companies such as buses, planes, and trains. Each of the transportation companies tries to convince the customer to travel by one of them.
A competitive environment requires a high degree of flexibility and savvy to present the brand in an honest and intelligent way. Fair and smart competitive methods are represented at the same time through tactics centered as follows:
Discounts (Markdown)
This method is one of the best competitive methods to attract customers to your brand. Making prices lower than competitors will attract people to you, as they always prefer economic goods.
Adding a feature to the same product
Similar products have no value if you do not add competitive advantages to them, such as developing the product, adding additional features to it, making its price distinctive, or having the product with multiple functions.
Presenting continuous offers
One of the most popular methods among competitors is to make offers, either by reducing the price or taking the method of buying one and the other for free.
Ensuring the formation of relationships among customers
Improving your relationship with the customer and trying to consolidate your relationship with him would create great loyalty between you and him, and when loyalty is built, you will monopolize your customer, and thus, he will avoid the rest of your competitors.
Perhaps one of the smartest competitive tactics is building a good relationship with competitors, praising and complimenting them. It is also possible to cooperate with them and take part in charitable and community initiatives, which give a positive impression and a good reputation for your brand.