Beating competitors' prices isn't just about offering lower prices. Instead, focusing on excellence in different aspects can attract attention and increase sales.
Marketing plays an important role in the company's success. Using marketing tactics, such as social networking sites and other online platforms, can help improve profitability and prevent bankruptcy.
Brand differentiation is important to stand out in a crowded market. For example, companies like McDonald's use certain colors, such as yellow, to symbolize hunger and to attract customers.
Examining similarities and differences with competitors can lead to differentiation through tradition and development.
By improving aspects such as the look and feel of the store, more customers can be attracted.
Geographical location and product quality are additional areas where excellence can be achieved to beat competitors.
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