Part of the project of Entrepreneurial Enterprises Essay Example
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Competition is an essential part of any industry as it promotes a sense of differentiation, and innovation among businesses. For our business, we will compete by building trustworthy relationships with our customers. As a company we do realize that our customers are our main stakeholders, and we will compete by striving to serve them better. We will build these relationships by physically distributing our product. Through the physical distribution, we will stay ahead in the market since we will get access to customer feedback and meet their needs better.
Our competitiveness also enhanced by the strengths of our product. Firstly, our product consumes minimal electricity hence it is suitable for our target market. The other strength of our product is that it portable hence providing convenience to our customers in terms of carrying it around. Additionally, the product also has the strength of a one year guarantee underscoring its quality. The other strength of our product that it is uniquely shaped hence this provided a basis for differentiation from competitor products. Furthermore, our product also has some of the most advanced features among similar competitor products. The target market for our product is also clearly defined as the features of our product have been tailored to meet the needs of the target consumers. The other strength of our product is that the problems of the preceding versions have been solved and this newer version will provide customers with an enhanced experience.
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