Competition - What to Do?
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In Dothan Alabama, a Barnes & Noble book store is opening on October the 10th. The only other book store in town is a Books-a-Million. Obviously the new B&N is going to cut into BAM's profits immediatly. As a small busniess owner, (brick and mortar, or internet) competiting with compeitiion is a key factor. So, what would you do if another busniess, nearly identical to yours, opened up shop near you? Obviosly the manger of BAM is going to have to think of something quick to keep sales up. Itll be interesting what kind of sales or gimmicks they come up with in the next month. What would you do?
Sir_Sid:
The best thing to do here would start building up real relationships with your customers. If you are able to greet your customers by name and remember which books they like, they will probably come by more often just to talk to you and hear your recommendations. You have to be the guy they come to when they want to find out what new books they will like.
A loyal customer base will probably help bring in additional customers in the form of family and friends.