The second effective strategy is creating a

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The second effective strategy is creating a competitive edge of the firm through promotional initiatives. It is very important for firms that want to be competitive in the market to invest on promotional strategies, such as, branding and advertising. Branding and advertising of the products of a firm, allows as many as possible of the potential customers of the firm to access information on the products offered by the firm, their qualities, and pricing. This plays a critical role in boosting the business image, and makes it more marketable amidst the competition that come the way. Indeed, through advertising and branding mechanism, firms are able to counter competition, by boosting the sales of their products in the market. Thirdly, firms can be competitive in the market by investing on quality and efficient production. The aspect of quality production refers to the aspect of business, where the firms make products of good and acceptable standards as compared to the ones of the competitors. The
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COMPETITION STRATEGIES 11 aspect of efficient production refers to the issue of quality production vis-à-vis the cost of production. In this light, firms should invest on quality items at the least cost. This will play a critical role in boosting the profit margins of the company. Boosting the profits of the company is critical in boosting the profit reserves that will be used in product development, thus making the firms sustain their competitiveness. In addition, firms can also be competitive in the market through effective customer focus. Effective customer focus involves the decision of selecting the consumer markets that a given firm would want to explore. It involves the process of identifying the right markets, and the right products that the potential customers in that market would want to explore. In this light, having the right customer focus will play a critical role in boosting the customer responsiveness to the business, and the product. This critically helps the business to be competitive, since it will attract a huge fraction of the customers in the market to purchasing the products of the firm. It would also increase the chances of customer loyalty, which promotes business success (Roberts & Berger, 2000). To, thoroughly comprehend what is taking place in the marketplace in which a firm functions, it is significant to know what the styles in the marketplace are, in addition to, what the company's opponents are doing to earn money, to enhance their companies, and to enhance their own industry stocks. Market analysis is necessary to create better company extensive choices. With promotion being a viewpoint where the sources and actions of the company or organization are targeted on fulfilling the wants and needs of the client, promotion analysis is the means a company with a promotion viewpoint decides what those needs may be, in addition to, how to express the associated benefits most efficiently and successfully. Additionally, research of the industry is used to observe and change, if needed, the elements of the strategy. General industry
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