Question

THIS IS A PROFESSIONAL SELLING DISCUSSION HOMEWORK.

In today's extremely competitive business environment, do you think it is more important to acquire new customers, or to try to hold on to your existing customers? Use critical thinking and course/business concepts to support your opinion.

• Your original post should be 3-4 paragraphs with 4-5 good sentences per paragraph.

Answer 1

1- COMPETITIVE BUSINESS ENVIRONMENT -

1

1- A person team, or company that is competing against others their prices are better than any of their competitors.

2-A competitive advantage distinguishes a company from its competitors. It contributes to higher prices, more customers, and brand loyalty.

3-Establishing such an advantage is one of the most important goals of any company. Without it, companies will find it difficult to survive.

4-The ways leading companies manage time- in production, in new product development and introduction, in sales and distribution- represent the most powerful new sources of competitive advantage.

   2

1- Knowing who your competitors are, and what they are offering, can help you to make your products, services and marketing stand out.

2-You can use this knowledge to create marketing strategies that take advantage of your competitors Weaknesses, and improve your own business performance.

3-The Importance of factor Conditions -

1-The four points represent four interrelated determinants that Porter theories as the deciding factors of national comparative economic Advantage .

2-These four factors are firm strategy ,structure and rivalry: related supporting industries; demand conditions; and factor conditions.

3-Important things you can learn from your competitors -

1-Creating valuable and relevant content .

2-Improving your social media skills .

3-Adding personal touch in your content.

4-Embracing visual techniques .

5-Showcasing case studies in website .

6-Learn to create a contens calendar .

7-Re - purpose content .

8-Entertaining your Audience .

   3

1-Seven ways to better understand your competitors -

1-Speak to your customers this is a simple step but many businesses don't do enough of it.

2-Speak to your suppliers .

3-Speak to your competitors .

4-Go to industry seminars, conferences .

5-Conduct online research .

6-Check online research .

7-Check social media .

8-Watch who competitors hire.