Question

Please reflect on the following

Reality of competition: companies are competing to attract 4 mln customers in Oman.

Which pattern will they mostly use?

- "Big fish" will eat "big fish" and there is space for "small fish"

- "Big fish" will not attack the other "big fish", but eat the "small fish"

- Other patterns?

Reflect on that , give your opinions and thoughts in above with example from Oman but Please not use the example for banking sector because it is repeated many time .

Answer 1

Oman is one of the most traditional country in the gulf region and childrens antly starting to wake up.

It is led by a Monarch Haitham bin Tariq al said after the death of his cousin brother Qaboos bin said al said in 2020 as it is a monarchy country.

Now looking at the competition of companies to attract customers,0 the pattern mostly used is:-

"Big fish will not attack the other big fish but eat the small fish".

Example for this is

hypermarkets in Oman comparing two big hypermarkets in Sohar.Two most popular and leading hypermarkets of Sohar – Lulu and Al Safeer

To focus the consumers to shift from traditional markets to modern retail formats. The presence of hypermarkets has attracted customers away from traditional shops. Customers are attracted to hypermarkets for various reasons, including the local and socio-cultural ones. The factor analysis produced four components, namely, “purchase experience”, “visit experience”, “augmented experience”, and “repeat-purchase experience” affecting customers’ choice of hypermarkets and store image in Oman.

Purchase experience and visit experience, in Omani hypermarkets, were forerunners in satisfying customers than the augmented and repeat-purchase experience according to a study,The study contributes to the narrow base of extant literature on consumer preferences of hypermarkets and their choice of related retail formats in the Islamic world.

Practical implications Analysis and discussions reveal that hypermarkets,that managers of retail formats in Oman are giving importance to consumer experience to secure better store image and consumer patronage.

Due to which the traditional shops that were located in the small markets of Oman which sold pretty much hand handmade goods and small shops that sold as retail of shoes and garments are shutting down the shops because of no sale or there trying to move into the hypermarkets ,supermarkets or malls as we can say.

Because of this huge companies the small shop owners have to close their shops.