Comments on: What To Do If A Competing Business Undercuts You In Price

By: Steve

Steve — Thu, 16 Sep 2010 14:01:54 +0000

@Jim
Well said and I don’t think anyone would disagree. Creating your own products is probably the best way to go when starting a business but may not be a good fit for everyone. The challenges of marketing your own product are greater than with a traditional store but the earning potential is incredible if you can pull it off.

By: Jim Juris

Jim Juris — Mon, 13 Sep 2010 16:57:11 +0000

I am a big believer in creating your own products. That way you can name your own price for the products that you have created.

I also strongly believe that you should test everything. That includes testing your product prices and sales material.

Selling informational products is great because once you have created the informational product, a website for selling the information, optimized your website for the search engines (SEO), and have a way to deliver the information immediately to the buyer of the informational product you are basically set up to run on auto pilot.

Your only job after you have set everything up properly is to market your product to your target market. This may sound simple but it does take time and effort.

By: Selling to Zebras Blog » Blog Archive » Complex Sales and Selling Strategies, Sixth Edition – February 15, 2010

Fri, 26 Feb 2010 21:09:02 +0000

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By: Craig Sutton

Craig Sutton — Fri, 12 Feb 2010 16:11:11 +0000

This is very wise, a knee jerk reaction is not the best course of action. Im a bit of a tinkerer myself and like to try things but they are always weighed against risk. If you already have a solid base of customers there is no reason to think they will suddenly move away, and the argument of quality over quanity is a good one as well.

First and foremost you have to understand who your customer is, the rest of the decisions are much easier one you are at ease with that.

By: Carla

Carla — Sun, 07 Feb 2010 21:04:44 +0000

Thanks Steve! Its growing slow and steady. There was a lot I had to learn in 2009 (especially SEO), but my efforts are paying off now. Its still not where I want it to be – not anywhere close, but at least improvements are seen every month.

By: Steve

Steve — Sun, 07 Feb 2010 20:24:31 +0000

@Steven
Thanks for the vote of confidence. I’m pretty sure that everything will turn out okay. After all, I’m sure this competitor has been undercutting our prices for some time now and I only just noticed recently.

@Carly
Glad the article helped. How has greenandchic been doing lately?

By: Carla

Carla — Fri, 05 Feb 2010 08:04:38 +0000

I really needed to read this. I was getting discouraged when I’ve noticed my competitors with lower prices and cheaper shipping. I then realized I need to find ways to stand out from the crowd. I have a few ideas and cant wait to implement them!

By: Steven Aitchison

Steven Aitchison — Fri, 05 Feb 2010 05:27:10 +0000

Steve, this is actually great for your business. It keeps you on your toes and you are not resting on your laurels. It’s also great to see that you are keeping tabs on your competitors as this is a great way to get new ideas for your own business. I think quality and customer service always win the day so I think you are doing the right thing by keeping your prices the same.

By: Steve

Steve — Thu, 04 Feb 2010 16:07:08 +0000

@James
Yeah, this competitor really fired us up. We really should be doing competitive analysis more often and eliciting more feedback from customers. We’ll see how everything plays out in a few months.

By: Steve

Steve — Thu, 04 Feb 2010 16:03:53 +0000

@torbjorn
Thanks! My wife and I’s first instinct was to slash prices to match our competitors but when we finally calmed down, we decided to evaluate the situation further and this article was what we came up with.