How Organizations Compete Against Each Other?
Answer:
Businesses since the beginning of time have competed against each other. On the justification of competition, various types of market exist for nearly all lines of products and services. We already know that actual monopoly and perfect competition type of markets are not that pervasive, yet businesses try to avoid fail-safe competition and strive to go for absolute monopoly so they can enjoy no competition and exploit the customer sentiments for buying. We can identify the following adjectives and widespread ways in which organizations can compete against other organization.
1. Price: In our day to day routine observations, we often see that a lower price would attract more customers provided the product or service fulfils its intended use. Lower price help an organization to increase its customer base.
2. Quality: is an important dimension by which superior unprocessed materials as well as high skill man ship would ensure that product manufactured or service developed is offered to the customer with something extra and that something extra is nought else but Quality. Quality is always offered free of cost, we will discuss this when we study in details Quality Management and Total Quality Management.
3. Product: Differentiation refers to special features that make the product or service look more suitable to the customers close to an automobile manufacturer decides to provide GPS system to selected customer at an extra price etc.
4. Flexibility: is the ability to respond to changes. It may refer to changes contained by target sales, product feature like adding up GPS device to all automobiles
5. Time: refers to the period required to provide a product or service to a customer from the moment the order is booked to the assignment, also time required to rectify a shortcoming or mistake.
Competition or race is present among traders since Trade came into existence. Inventions of electronic media give new ways to competition. Following are some methods through which organizations compete...
Print Media: Organizations extensively uses print media to compete. Sellers do advert through newspaper; they publish and distribute brochures. Some well established firms also distribute their own magazines published on monthly or once a year basis.
Electronic Media: Includes Internet, websites; Email etc. sellers frequently publish their information on internet. They send Marketing Emails to customers. They register their own website that highlights sellers' products and services; they try to put together their website attractive and up-to-date. One best method of spreading their website is that they put it with some famous search engine. In alike way Google search engine has given a bright way to website competition.
Organizations also publish an Ad or a link to their website onto some other website. They pay a nominal payment for this.
Telemarketing: Salesmen make telephone calls to potential customers to let somebody know them about their products.
Marketing staff is hired who personally visit the potential customers and create a clear portrait. They conduct workshops, seminars, also present gift items to customers.
Some other Methods: stealing information's from other company's database, hiring staff by paying more, copy others products with for a while change.
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