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A company ABC Ltd producing detergents for the local markets in suburban areas was facing increasing competition from branded products. The management decided to concentrate...

      

A company ABC Ltd producing detergents for the local markets in suburban areas was facing increasing competition from branded products. The management decided to concentrate on controlling costs by recasting production and marketing processes and bargaining with suppliers to minimize cost of inputs. But there were limits of cost – cutting by recasting process and optimize time utilization. Suppliers of inputs too were reluctant to yield pressure. After a year, sales started declining fast. What can the management do in the fact of growing competition?

Discuss a possible swot analysis for such company?
What else can the management do in the face of growing competition?

  

Answers


Salome
The ABC company should consider the following points in the face of growing competition.
1.See the competition as an opportunity for learning rather than a threat.
2.Creating partnerships - with partners there is shared funding for tools as well as exchange of ideas.
3.Prioritize the needs of customers - in turn go for quality so the customers will also see the value of the goods worth their money.
4.Plan long term - When it comes to success in business plan long term and effective ideas. This will help achieve more.
5.Stay competitive and advertise - make the products of the company and the company itself known to the public. There is power in advertising and with positive competition the company will beat all the odds.
Sally the guru answered the question on October 25, 2017 at 11:28


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