Hello folks . Good to be back here sharing what I got for y'all today
A dominance firm or business is a firm capable of controlling the affairs or activities of other firms behind them example of dominance firm is for razor blade is gullet blade and for soft drinks is coca cola. Now three are way to make sure a dominance firm remain Dominic
- To expand market demand
- Defend current market by using offensively or defensive straight
- To increase market share
To expand market demand :- it has to deal with all the means necessary to boost your sales and get more customers. There are three ways to it - New user
- New usage
- More usage
With this customer satisfaction will increase and your demands will definitely expand
Image source vector stock
Next is to defend your current market by using offensive and defensive strategy:- it's simply the use of strategies to defend your current market position . There are some strategies to adopt in other to do that like
- Positioning defense
- Flank defense
- Counter defense
- Mobile defense
- Contraction defense e.t.c
With all this defense strategy in place market is gonna be smooth and competitive threat won't be so much of worry
Image source Pixabay
Now to increase market share :- it's quite easy in to way . It has to deal to improve you market share .
- By lowering your price
- Through innovation
- By advertising your product
- By increasing it quality
That's all I have on it . I hope you're able to gain one or two ideas from my knowledge of things . Till next time guys