Discuss the planning for improved competitiveness
Answers
The first step in improving the competitiveness of a business firm is to understand the needs, tastes and preferences of customers better than rivals.
Next step is compiling all data regarding their buying habits and the chances of spending money for your product.
Making a note of triggers which attracts more customers to increase leads and ultimately sales.
Always be a step ahead of your competitors in making the next innovation and surprise competitors with your new marketing strategies.
It is important to plan for an improved competitiveness for which it is important to have knowledge of your competitors and understand the strategies used by them.
This planning helps you identify open spaces for your operation.
It is important to gather data which is focused on the services and products offered by your competitors, tactics adapted by them for the required marketing, prices and also their strengths with their weaknesses