Business Competitiveness (What is it, Benefits and Basic Ideas)

The competitiveness applied to a company can be understood, or rather defined as profitability equal to or greater than the rival we have in the market. We can also define business competitiveness as the capacity to grow, innovate, penetrate and consolidate in the market.

When we talk about business competitiveness, it can be said that a systemic process since it takes into account business development, innovation, as well as physical infrastructure and its human staff. A company is really competitive when compared to its environment and can outperform its competition.

In order to remain active within the market, the key is to work and strive to comply with the client’s requirements, to seek the satisfaction of our clients, which is the rationale of each company, you can enjoy the best strategy and the best business plan , but if customer satisfaction is not met our company will not be competitive and therefore we will not be competitive.

How to know how satisfied customers are?

To know how satisfied our customers are, there are several different aspects of the indicators and sales figures, we can resort to the interview, surveys etc., in this way we can collect vital information.

What benefits does business competitiveness have?

Business competitiveness directly benefits the consumer, since by constantly improving their products and services offering better prices in addition to a higher range of products and better quality.

Companies always seek to improve their products based on the needs, tastes and valuation of customers. This is how consumers win, since when there is competition they will always find the product or service that best suits what they are looking for.

The competition between companies is good because it improves the market, when there is competition, the client has more and better options to choose from, and as an entrepreneur you have the opportunity to see your business in perspective, find weak points and improve them. The main thing is not to be afraid of competition, this must be one more reason to meet your goals, reach your goals and make your dreams come true.

Basic ideas to compete in the market

To compete in the market we can develop these four basic ideas and so you will be able to establish yourself in the market as long as you decide:

Have a strong point

Taking the story of David and Goliath as an example, imagine a young man armed only with a wave and a stone against a giant armed with shields, spear and sword. In order for David to defeat Goliath he had to run keep distance and throw a precise blow. With this analogy, what you want to achieve is that as an entrepreneur you must get the strength of your company, develop it and exploit it.

In the same way you as an entrepreneur your job is to get one or several strengths that can make your company distinguish from your competition, these strengths are the ones you should use to focus all your attention to let your niche know that nobody More can offer them.

Find the strong point and let all your prospective clients and all your communities know about it.

Treat your customers like kings

Clients value the treatment they receive from the representatives of the company, whether they are salespeople, administrative staff and all personnel in general, so you must bring them with kindness, you must know them by name and treat them with respect. Some companies, while they are larger, have less control over their employees’ attitudes towards customers, but keep in mind that this point is very important to position yourself with your customers.

Commitment to excellence

One of the most powerful marketing weapons that can put your company far above any other company is to maintain a commitment to excellence, this commitment will be translated into offering the best products available in the market accompanied by the best service.

There are people who will not mind paying a little more money for a quality product or service that is offered elsewhere.

Seek market leadership

Something that most bankrupt entrepreneurs have in common is that they start their business adventure thinking small, only to have a small business, make it grow a little and someday have employees, on the other hand, the businesses that are most successful are those looking to be at the top of the market, for these entrepreneurs there is no other option than to be the number one in the market and do everything possible to achieve it.

Any business that has achieved great success today, was not by luck, by chance, or by the economy, or by strange events that occur in the destination as many entrepreneurs believe. The great business men and women reached the top because from the beginning the image of being the number one and the best in the industry was reflected in their minds.

We hope you enjoyed reading! If you want to read more tips and interesting topics visit our website.