Question

Discussion Topic:

You run into to Vincent at a networking meeting for small business owners and he asks you, as a fellow small business owner, to share and explain 2 ways your business is or will be different from your competitors in the areas of pricing, the use of technology, or distribution strategy. He also asks that you provide examples from your experience in your response.

Answer 1

Let me take an example if a company of my own.

I am having a clothing industry where dresses for all age group are being sold. There is a special offer for infants less than 2 years. One can avail offer of exchange one for one , in the case that a costume or dress of a child less than 2 years can be exchanged for any one dress. That if any customer come with a free of a child less than 2 years and the dress is in a good condition, they are given offer to buy any one dress in exchange of that dress and that old dress is sold to poor and needy oeople in very less amount.

This scheme is being because usually this age group children have rapid growth and their dress run short too very often. So if those dress are resold to one who can not afford expensive dresses for children.

Now, let us see how in 2 ways my business is different from all other business and competitors in various areas :

Pricing :

• The dresses are sold at a wholesale rate which makes it affordable to buy for customers who are not very rich and could not prefer buying costlr attires. They are getting good quality clothes at reasonable prices so it gives us advantage over other sellers.
• The scheme of reselling the infants dresses at low prices have given a boost to the business for this our business has gain a specific recognition and people more and more come to buy dresses for their small children.

Use of technology:

• The technology used for manufacturing clothes are the machines that produces clothes of fine designs with new patters that are liked by customers and is in huge demand.
• Along with the machine designs, hand made designs are also kixed in clothes so as to give it a new pattern which usually us seen missed in today's market. Thus, because of this more customers are buying our clothes.

Distribution strategy :

• For each catogory of dresses according to age group , different group of people are targeted and separate distribution channel ys made for such groups. This gives an advantage as each target group han contact the particular channel where they can get their desired dresses without wastage of time.
• Also our compamy has very wisely selected the intermediaries who are responsible for distribution of products so that they can attend the customers well and attract more and more customers. Such intermediaries are properly trained how to attend each and every customer. This is profitable for the business as it bring more customer to his businesss as well as have a name in the market.

So, here I mentioned the ways in which my business is different from all other businesses in various areas with example.