Mushrooming
Competition
Salespeople often complain about
increasing mushrooming competition when they don’t meet their targets. I urge
readers to approach the rest of this article with an open mind.
First, let's understand how competition
proliferates. Many salespeople work within their comfort zones, neglecting
uncovered markets. We may sometimes lose existing customers due to issues like
quality, service delivery, or intense competition from similar players in the
industry. In such instances, we may attempt to penetrate untapped markets, only
to be surprised by the number of new companies that have emerged. I am sure
many of us have faced or are currently facing such situations.
The important lesson is that deep
market penetration and developing products for price-sensitive markets are
crucial for business success. In the 1980s, electronic watches were all the
rage, with Casio being a leading player. They effectively penetrated markets worldwide,
catering to various demographics, including schoolchildren with colourful
electronic watches.
Ask yourself if markets remain uncovered
and begin your journey towards them. By building rapport, you can retain your
existing customers, and with determination, you can acquire new ones.
M.L.
Narendra Kumar
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