NFIB

Beat the Competition
08/ 25/ 2003

by Vicki Gerson

Regardless of what type of business you own, you have something to sell, and chances are, you are in a market with other competitors. The success of a new product or service relies heavily on your ability to find its niche and make a unique selling position. Before you start selling to others, consider the following factors that can help set your product or service apart from the competition:

Features: Try to list at least three important features about the product or service that make it unique. Make sure they are compelling characteristics. For example, you have a new imported product from Japan that makes rice easier than other rice cookers in the marketplace. Since there are other rice cookers in the market, you need to give potential customers a reason to purchase your product. Does the rice cook faster in your product? Is the rice cooker easier to clean than most?

Price: Depending on the type of business you have, you may want the product to be sold at an upscale price to attract people who purchase status items. On the other hand, you may want to price this product at a lower price than any other store in your surrounding area.

You may also want to consider offering introductory prices or special offers. Because you want to retain existing customers and make new ones, a special discount for referring new customers can be a successful way to market your product.

Delivery: If most of your competitors charge for delivery, you might want to consider taking a different approach and offer free delivery. By offering free delivery, you can get an edge over your competitors who charge or provide no delivery service. Don't make customers borrow their friend's truck to pick up their purchase. Provide that service free of charge -- and with a smile -- and your reputation will soar.

Experience: If you have education or experience with a new product or service, make sure your customers and potential customers know about it. Any extra training you've received in order to sell this product or service should always be highlighted. Consumers find this is important when making a decision on where to shop. Don't be hesitant to brag about your experience, as that experience could be the reason a customer chooses you instead of a competitor.

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