*8 Unknown Strategies That Can Make Your Business Survive In An Over-Competetive Market* https://whatsapp.com/channel/0029Vb4qxBsKrWQqS2IeMF3J When they say "Zvawandirwa" Is a situation where many Companies are selling the same products or services to same group of audience (customers) creating an uncondusive environment for small companies and start-ups that cant afford strategist and marketing agancies, where the only brilliant and creative ones can survive. Thus I have gathered 8 strategies that have made other big companies survive for many decades : *###1:Value Building* First things first: You have to build the value of your products or services based on the usual everyday price – this can be what you normally charge or even what your competition is charging.It’s important to establish your regular price and make it seem like really good value. To make your regular price believable, specifics and forensic-like detail are crucial for proof. Tell your prospects(future Customers) where your product has been offered or sold at full price or even how many thousands of people have paid the full price for the product or service. *Make them believe that product or Service is worth the price you are charging* *###2:Business Niching* Niche marketing is a highly targeted form of advertisement. With niche marketing, businesses promote their products and services to a small, specific and well-defined audience. Many organizations adopt this strategy to support an underserved population and reap the rewards of brand loyalty. *For example:* Imagine where 12 companies are in competition of 60 customers then you decide to be unique and different by marketing a specific product or service targeting a specific group of at least 10 audiences. *#marketing specific products or services doesn't require much revenue whilst building an easily recognizable brand* *###3:Start Offering Premiums* This strategy involves giving free gifts that prospects receive along with the product they’re purchasing. Premiums are not to be scoffed at. The reason premiums are used is because they work.Having a hot premium can double or triple your sales. *A great example of the impact of having a hot premium is from Sports Illustrated*. In the summer of 1986, Martin Shampaine, the magazine’s marketing manager, found himself in the difficult situation where the market was over competitive, meaning he wasn’t persuading enough people to subscribe, which is basically the worst news any magazine can get. So, he needed something new, something fresh – an offer people couldn’t resist. It was then that the Football Phone premium was born. Sports Illustrated ran television ads giving away the football phone as apremium with a yearly subscription of the magazine. This premium went on to sell 1.6 million subscriptions for the once-hurting publication. *Premiums are a proven way to pull in more sales in an over-Competitive market* *###4: Pricing* For your Company to Survive in an Over-Competetive Market very offer you’re making should be designed to turn complete strangers into paying clients and customers, the key is to offer a of new customers, plus one or two higher price points to increase your average sale and return on investment. You want to lead with your most aggressive offer and then have two to three upsells after the initial purchase has been made. This makes the first sale as attractive and irresistible as possible and once the prospect has bought the first offer, the additional upsells are met with less friction than if you would have offered a higher price on the front end. *For Example*, One of the most profitable smartphone game apps in the world is *Candy Crush*. And guess what? It’s a *Freemium* app, which means you download the basic game for free. You can even play the basic game for free as long as you want to. You are never required to pay a penny. But The owner Activision Blizzard,earns a reported $633,000 per day by selling in-game upgrades for more moves, more lives, and more levels. The game is designed to make users an offer they cannot refuse – and sure enough, they love it and keep spending to play it. *The key here is to avoid presenting prospects with too many choices on the front end, and leave that to the upsell process.* *###:5 Payment Options* When your ideal price point – the level at which most of your customers will buy – is relatively high for prospects comparing with what your competitors are charging, consider breaking up the purchase into a payment plan of three or four payments, then charge it for one-third or one-fourth of the total amount each month for three or four months. By doing so, you effectively lower the perceived price point in your prospect’s mind, making your company the first choice and this should increase response. *Plus, ‘today’ money is always more crucial to a prospect’s decision to buy than ‘tomorrow’s’ money.* By *Donny Donald Mkondwa* _Part 2 of this article will be posted on Monday, Dont miss this insightful and educative articles_