dolution

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The production of goods and services has always been there in the business. It has been changing according to the needs and wants of the consumer. To compete with lower price competitor, the manufacture produces quality and innovative product in high volume in order to lower the cost and sells to the targeted consumer in the market by offering sales promotion, discount, and after sales service to the customer. Many companies have adopted a new strategy by selling their product at low prices to stay in the competition in the market or launching the new product in existing or new market. As there are many brands available in the market selling same product line with lower price competitor, therefore, the brand must provide customer satisfaction to their loyal consumer. By providing good prices for quality and innovative product to the new consumer, so that the brand can convert them into loyal customer.

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To compete with lower price competitors, a company need to do research and analysis on market needs and preference. A company can find what consumer needs to buy through the market research and have products to meet consumers’ needs better than other competitors. Another way is to focus on the value of product and investment on the quality of the product. Last point is to provide valuable customer service to fulfill consumers’ expectation. Customers willing to pay more money, if they are satisfying with a good quality of product what they are getting for their money.