How to win the competition in business

GROUP:3 - CLASS: 1740ENTI2411
Thuong mai University
TOPIC: “How to win the competition?”
MEMBER:
1.
2.
3.
4.
5.
6.
7.

Nguyễn Thị Xuân Quỳnh
Lê Hà Thu
Hoàng Thị Thủy
Phạm Thị Sang
Sùng Y Thanh
Phạm Thị Mai
Vũ Thị Hồng Nhung

OUTLINE:
I.
II.
1.
2.

3.

Introduction
Main content
The definition of competition

Competition advantages and disadvantages
2.1.
Advantages:
- Competition drives innovation and quality
- It leads to collective learning
- It emphasises customer’s role
2.2.
Disadvantages:
- The playing field isn’t level
For instance, small companies often face many disadvantages as limited
resources and lack of bargaining power with vendors
- Market share is divided among many
Types of competition
3.1.
Based on the market participant
- People divide competition into 3 types:
+ Competition between sellers and buyers
+ Competition between buyers
+ Competition between sellers
3.2.
Based on economic area
- People divide competition into 2 categories:
+ Competition within the industry
+ Competition among sectors
3.3.
Based on the level and nature of competition in the market


People divide competition intio 3 types:
+ Perfect competition

+ Imperfect competition
+ Monopolistic competition
The current competitive situation of businesses in the market
The business market in the world is always fierce competition in all sectors.
In Viet Nam, after the reform, the competition is more intense than ever.
4.1.
The war between big businesses
4.2.
Small and medium businesses in the fierce competition
(For example)
Analyse the competitive environment
5.1.
The first is competitive pressure from customers
5.2.
The second is the power of supplier
5.3.
The third is current competitors
5.4.
The fourth is trends in alternative products.
-

4.

5.

If a business wants to win the competition, they should have some important
strategies as:
6.

7.

Identify brand
6.1.
The concept of brand
6.2.
Why do businesses have to identify their brand?
6.3.
Brand’s role in the business
6.4.
How do businesses identify their brand?
6.5.
For example
Identify competitive advantages
7.1.
The concept of competitive advantage
There are basically three key areas to focus on when choosing a competitive
advantage:
Quality: Offer a superior quality than others
Price: Offer the lowest price
Service: Offer an unforgettable customer service
Give an example of Apple, a well- known company around the world with
extremely competitive strategies that no competitor can keep up with.
Creat a good relationship with your customers
-

7.2.
8.

How to creat a good relationship with customers?
8.1.

8.2.
8.3.

Leave a good impression in the first time
Stay calm- respect your customers
Always listen to what the customers say


Get wrong and collect
Inspire customer loyalty
Membership card
Generating incentives, discounts,etc…
Advice
Conclusion
8.4.
8.5.
8.6.
8.7.

9.
III.

------------------------------------


How to win the competition?
I.

Introduction

Today we would like to present to you topic :”How to win the
competition?”. As you all know, in the marketplace, competition always exists.
Everyone often says :” Marketplace likes battlefield”. Indeed, competiton is always
fierce in business. Business is a game and only the team with the best players will
win. So how to win the competition and why do businesses want to win the
competition ?. We will together find out the answers for these questions.
II.

Main content
1. The definition of competition:

In economics, "competition" is the rivalry among sellers trying to achieve
such goals as increasing profits, market share, and sales volume by varying the
elements of the marketing mix: price, product, distribution, and promotion.
2. Competition advantages
2.1.
Advantages:

and disadvantages:

Competition drives innovation and quality: Competition puts pressure on
providers to constantly research, innovate and upgrade the quality of their products
and services. If businesses fail to identify emerging trends and changing
preferences in the marketplace, competitors can capture market share. This makes
businesses develop far stronger in the market.
It leads to collective learning: In some cases, the best way to learn is to
watch other successful businesses perform. In fact, some companies use secondmover strategy based on observing what first-mover companies do to succeed and
trying to upgrade their products.
It emphasises customer'role : Customer service and relationships are one
of the major elements of 21st century competitive strategy. Customers play an

important role in development of businesses. It causes companies to invest time
and effort in research and in relationship management processes so as to strengthen
loyal relationship.
2.2.

Disadvantages:

The playing field isn't level: Though clever business leaders find ways to
use strengths and offset weaknesses, restrict competition. But small companies


often face many disadvantages as limited resources and lack of bargaining power
with vendors, for instance.
Market share is divided among many: The limit of competition is the
reality of sharing customers with other providers. With open competition, every
provider has some level of market share, so it is virtually impossible for a single
provider to earn 100 percent of what customers spend on their products and
services.
3. Types of competition
3.1.
Based on the market

participant

People split the three types:
-Competition between sellers and buyers :The competition is under the "law" buy
cheap expensive. Buyers always want to buy cheap, whereas sellers always want to
sell expensive. This competition is made in the process of bargaining and
eventually the price is formed and the sale action taken is taken.
-Competition between buyers: Is the competition on the basis of supply-demand

rules. When a certain kind of goods and services whose supply is less than the
consumer demand, the competition becomes drastic and the price of the service
will increase. The end result is that the seller is profitable and the buyer loses some
money.
-Competition between sellers: This is the toughest and most fierce competition, it
is vital for any business. As commodity production grows, the number of sellers
increases, the more aggressive the competition is because every enterprise wants to
gain competitive advantage, gain market share of the competition, The win in this
competition is increased sales, increased market share and along with increased
profits, increased investment and expanded production.
3.2. Based on economic area:
People divide competition into two categories:
-Competition within the industry: Is a competition between businesses that produce
or consume certain goods or services. In this competition there is mutual
annexation. Winning businesses will expand the scope of their activities in the
marketplace. Losing businesses will have to shrink business even to bankruptcy.


-Competition among sectors: Is the competition among business owners in
different economic sectors, to gain the greatest profit. In the course of this
competition, business owners are always fascinated with profitable investments,
which translates capital from less profitable to more profitable.
3.3. Based on the level and nature of competition in the market
People divide competition into three categories:
-Perfect competition: Is a form of competition where there are many sellers, small
buyers, none of them large enough to by their actions affect the price of services.
That means no matter how much production they can make, they can all sell their
products at current market rates. So a firm in a perfectly competitive market has no
reason to sell cheaply than its market price. Moreover, it will not increase its price
higher than the market price because otherwise it will not sell anything. The group

of participants in this market is the only way to adapt to the price, because the
supply and demand on the market are free to form, the price to market determines
the quantity demanded by all. Supply can provide. For the perfect competitive
market, there will be no artificial supply and demand, not restricted by public
administrative measures. So in this market the market price will gradually reach
the cost of production.
-Imperfect competition: If a firm can significantly influence the market price for its
output, it is listed as "imperfect competition firm" ... so imperfect competition is
competitive in the market. Not identical. Each type of product may have a variety
of different brands, each with its own image and reputation, although the quality of
the difference between the products is negligible. Trading conditions are also very
different. Sellers can compete with each other to attract customers towards them in
a variety of ways, including advertising, promotions, price incentives before,
during, and after the purchase. This type of competition is very popular in the
current period.
-Monopolistic competition: Is competition in the market where some sell some
homogeneous products or many sell a heterogeneous product. They can control
almost the entire quantity of products or goods sold on the market. This market has
a mix of monopoly and competition called monopolistic competition, where
competition between monopolies occurs. The conditions for entering or
withdrawing from the monopolistic competition market are more constrained due
to large capital or capital
4.

The current competitive situation of businesses in the market


The business market in the world is always fierce competition in all sectors
because every business is trying to get high market share. In Vietnam, after the
transition from a command economic system to a market economic system, the

competition is more intense than ever. The process of opening up international
economic exchanges has enabled foreign investors to enter the domestic market,
bringing many goods of high quality and beautiful designs to meet the needs of
consumers. Goods are more diverse, many types, consumers can choose goods in a
variety of different goods.
4.1.

The war between the big businesses

Large businesses always have more customers than small and medium
businesses. In many fields, we can see the fierce competition between big
companies: the race of apple-samsung in mobile phones production, kfc-lotteriaMcDonalds battle in the fast food market, honda-toyota-suzuki in the field of
motorcycle production, etc.
The market in Vietnam is very potential. So the battle between the big
business also came to Vietnam, including domestic and foreign enterprises. Foreign
businesses mainly occupy the market of goods which can not be produced in
Vietnam such as cars, mobile phones and computers. However, many commercial
businesses in Vietnam have succeeded by choosing to distribute these products
instead of producing them, some big businesses such as thegioididong, dien may
xanh, tran anh, fpt shop. Although competition is fierce, many Vietnamese
enterprises have succeeded, such as the race between two viettel and vinaphone
companies in the field of mobile networks; or competition of bitis sports shoes
with two world famous brands are nike, adidas.
4.2.

Small and medium businesses in the fierce competition

About 98% of the total number of enterprises, small and medium enterprises
(SMEs) play a very important role in the Vietnamese economy, contributing about
43.2% of GDP, 31% of exports, 29% of National budget revenue, creating jobs for

more than 5 million people. However, in reality, SMEs still faces many challenges
in competition and Economic integration.
The statistics by the General Statistics Office show that about 20% of SMEs
are active and competitive, 60% of SMEs are struggling to survive, 20% SMEs
have been stopped working.
Investment capital for new technologies is very low. Quality doesn’t meet
the international standard. Businesses do not have business strategy but still mainly


based on experience, business follow the trend. Product network is very narrow.
Management level of SMEs is limited. SMEs in Vietnam are competing in unequal
conditions, so maintaining and developing the Vietnamese brand is also difficult.
5. Analyse the competitive environment
5.1.
The first is customer pressure

Business customers are those who have demand for products (services)
provided by the business. For every business, the customer is the market of the
business. A customer for a business is not just a current customer but also a
potential customer. The number, customer structure, size of demand, motive of
purchase, tastes, requirements are factors to consider in strategic planning. Pressure
from customers forced businesses to consider when studying the internal
environment of the industry.
This is the force that creates the bargaining power of the buyer. Buyers can
be viewed as a competitive threat when they force businesses to reduce prices or
require higher levels of quality and better service. Conversely, weak buyers will
give the business an opportunity to increase the price to earn more profit.
Customers include end consumers, distributors and industrial buyers.
5.2.

The second is the power of the supplier

This is a force that affects the business and is considered a threatening
pressure when they are able to increase the price or change the quality of the inputs
they provide to the business.
In a nutshell, strategic planners must find the risks and opportunities from
the supplier to have the right strategy.
5.3.

The third is current competitors

Current competitors are companies operating in the same industry as
businesses. If the competition is weak then the business will have the opportunity
to increase the price and make more profit and the business can implement the
strategy of expansion. On the contrary, as the stronger the competition, the price
competition is significant and it is best to maintain stability avoiding price war.
5.4.

The fourth is trends in alternative products

Alternative products are other products that can satisfy the needs of
consumers. However, it has many different features than the replaced product. This
is an opportunity and also a threat to the business requires enterprises to have


reasonable strategy for their products. For example: The development of the
beverage industry has a huge impact on the business of traditional beverage
products.
If the substitutes for the products of the industry are available then
customers may switch to alternative products if the existing enterprise has a higher

price. The determinants of the threat of alternative products are: the price and
relative utility of alternative products, transfer fee for customers, customer
alternative.
To win, businesses need to know their strengths and weaknesses as well as
those of their competitors. Know themselves is no longer sufficient in the
competitive market. According to Sun Tzu, the ancient author of the Art of War: “If
you are ignorant of both your enemy and yourself, then you a fool and certain to be
defeated in every battle”. No matter how businesses think they know about their
business, no matter how much experience they have in their chosen field, without a
clear understanding of the competition in the market, they might as well be driving
blind. To beat the competitors will require everyone’s collective effort. It’s not just
a task for the marketing department or top manager, it’s everyone’s responsibility.
No business can survive for a long time without some forms of competitive
advantage. We must target whether it’s a sustainably competitive advantage or not.
Because if they don’t, they can’t last their company’s life span more than their first
year in business. Therefore, if a business wants to succeed, they should have some
important strategies as:
6. Identify brand
6.1.

The concept of brand

Branding is a name, term, symbol, symbol, or design, or combination
thereof, to format the goods or services of a seller or a group of sellers to
distinguish them from the competition. compete
6.2.

Why do businesses have to identify their brand?

Make differences.

When you have created your own brand, it is a powerful tool to differentiate
you from your peers and competitors.
Bring specific benefits in the short and long term such as better jobs,
stability, increased income, expanding business.


When you have a well-known brand, you will naturally have more
opportunities in your field of activity.
Increase competitiveness
When the brand is identified. Businesses will attract and attract customers,
create internal resources for employees; Create trust and unity of shareholders;
Create gravity with partners.
Improve business efficiency, sell more products, services and sell at higher
prices. Increased customer loyalty to the brand. Easily overcome the risks that arise
in business.
6.3.

Brand’s role in the business

First, building a strong brand gives the business a tremendous advantage, not
only because it creates the image of the product and the enterprise, but it also has
important significance in creating the prestige of the product, promote the
consumption of goods and be a sharp weapon in the competition.
Second, with a strong brand, consumers will have confidence in the products
of the business, will be reassured and proud to use the product, loyalty to the
product and so the stability of the customer. The present is very high.
Third, with a strong brand name, businesses will have a strong foothold in
the fierce market price competition, product distribution, attracting investment
capital, attracting talents .
Fourth, branding is the decisive factor when choosing to buy, because the

brand gives them peace of mind about origin information, trust in product quality,
save time searching for information. Believe, reduce risk. Therefore, if you want to
dominate the market and develop production-business, you need to invest in
building and developing the brand.
Thursday, a strong brand can increase profits and dividends
6.4.

How do businesses identify their brand?

3 ways to identify the brand:
Access by cost. The cost approach is based on the accumulation of branding
costs since the beginning, such as advertising, promotion, creative campaigns, fees,
posting costs. Sign the mark.


Income approach. The approach is based on the current value-for-money
methodology, which aims to measure the economic benefits of the brand in
generating a future flow of revenue or cash flows.
Market access, which evaluates the brand value by considering whether the
buying and selling activities on the market affect similar brands.
6.5.

For example:

Apple identifies brands with logos, images and images. Customers
distinguish apple from other brands with the missing apple image. Apple involves
high quality products using innovative technologies based on creativity and
imagination.
7. Identify competitive advantages
7.1.

The concept of competitive advantage

A competing advantage of business is its advantages,characteristics,or
variables of the product or its brand,which,thanks to them,create some superiority
and superiority over the competing ones.
Jack Welch,the former CEO of General Electric was right when he said “ if
you don’t have a competitive advantage,don’t compete”. In other words,don’t
bother getting into the game if you haven’t first figured out a plan on how to win.
There are basically 3 key areas to focus on when choosing a competitive
advantage:
Quality: you can choose to beat the competition by offering a superior
quality than others.
Price:you can choose to beat the competition by offering the lowest
prices.
Service: or you can choose to beat the competition by offering an
unforgettable customer service.
Most of the time it is not so easy to measure up well on all three key areas.
However,it’s important to include service in any of the combinations you want to
focus on. Why? The other two forms of competitive advantage can cost you a lot of
and often time customers can choose otherwise.
There’s always an atternative to quality,if you focus on only offering the
highest quality at a premium price,customers will scout around for a lower quality
at a cheaper price.


There’s always an atternative to price,if you focus on offering the cheapest
price possible it will require that you find a way to drive down your cost to the
barest minimum. And this can turn out in form of low quality products or service
and customers will start to complain.
So what do you do?

Pick either of the two;price or quality as your competitive advantage and
complement it with service. Without the element of service in your competitive
strategy you can never deliver happiness to your customers. People may not
remember how great your product or service is quality;they may not remember
how much you made them pay(price),but they wil never forget how you made
them feel(service).
You see it is possible for your competitions to copy your products or
services just in our case they copied our pricing plan,timer,banner etc. But they
couldn’t copy the way we treated our customers and the spirit and attitude of our
wokers. Our greatest strength was hospitality. They just couldn’t beat the way we
made our customers feel whenever they visited our cybercafé. And when we
surveyed our customers,asking them what made them stick to us. They kept saying
the way we treated them was exceptional.
In our case we chose quality and service as our competitive advantage. Our
competitive strategy was simple;treat people Right,make browsing fun and fast.
From the outset of our operation we never made price an issue. We came up with
our own unique pricing planthat altered the pricing model of the industry. We had
air time as low as 30 naira and as high as 200 naira.
We were very flexible,buy as your pocket allows. But we never
compromised on quality and service. In fact,we were the only cybercafé that
compensated customers every time the quality of our internet service/link dropped
below certain expectation. If our generatior malfunctioned,we gave out
compensation tickets,sometimes we even went as far as given customers back their
money.
At other times,we would completely replenish the tickets of our customers
anytime we had unforeseen power problems not minding how much of the air time
they had used already. We believed we were totally responsible and to be blamed
for any interruption in the quality or reliability of our service. We followed a
simple philosophy:” when you fuck up,treat your fuck up yourself,never pass
the blame on the customers!”

7.2.

Secondly,an example of Apple,a well known company around
the world,with extremely competitive strategies that no
competitor can keep up with.

First of all,an advantage of Apple is that it is a perfect business strategy
based on vertical alignment when the Apple trees spend heavily on the supply
chain. This process help Apple handle large amounts of inventory at every launch
without worrying about high inventory;allowing a company to be constantly
criticized for selling higher priced products than any competitor could still earn
25% on each ipad.
Apple is carrying more than $ 80 billion in cash and investing : Apple plans
to double the cost of capital for its supply chain to $ 7,1 billion in the coming year,
$ 2,4 billion to prepay for major vendors. The strategy is to ensure availability and
low prices for Apple,and to limit the ability of all other competitors. ‘ before the
iphone4 was launched in June 2010, the HTC could not buy the desired number of
screens because the manufactures were busy completing Apple ‘s orders,’ a HTC
official said. To create ipad2,Apple also bought several high-end boring machines
to make the case inside the device,forcing other manufactures to wait six weeks to
six months to buy the machines.
Secondly,Apple is always ahead of the opponent one step in terms of
technology,overcoming weakness to become a strong point. Apple does not
produce components themselves but always has the best ingredients from partners.
Apple is extremely wise not to spend money to invest in building factories or
producing large quantities of components that spend money on purchasing the right
to use the products for a certain period of time ( 6 to 36 month) and then the right
to a discount. First of all,Apple can own the latest technology and equipment in

front of its competitors monthly or yearly. And this advantage has made it hard fo
Apple products to be copied in the early stages. Remember when the iPhone was
launched,not any manufacturer can launch the device with touch screen phone
sensitivity and smooth as the iPhone. Second,even though competitors can catch up
on technology,but with the money to buy “ privileges”,Apple has got a deal that
allows it to own components at discounted rates certain. So,even if the goods are
not new,Apple has the advantage of buying goods at cheap prices.
Thirdly,Apple is always innovative and constantly innovating, in just
adecade,Apple has created five cannons that radically change the face of
innovation in the tech world:


1/ipod: the trendy mp3 player that started Apple’s era in the
technology market.
2/itunes: great software with powerful business model,enough to
persuade users to pay idd the manufacturer provides affordable music
and friendly interface.
3/iphone: although it has been around for near ten years,this
smartphone,which is called “the phone of the gods”-has not found a
match.
4/the appexchange: the first online marketplace for cloud computing
applications.
5/the apple store: this is probably the quietest revolution of Apple.
At present nearly 2 billion usd worth of goods have been traded
through Apple’s revolutionary shop system.
Apple products have extremely high security. When it comes to
Apple,consumers will not have to worry about their privacy. For exemple,when
you own an iPhone,you will have an iClould account for all your
information,contacts,games,pictures,.. event if you lose your phone,connected to
the computer,can still get them and and find your phone with the iPhone app.

Finally,another advantage of Apple is that the product line
beautiful,unique,colorful,many applications. For example,before the Apple iphone
has only two colors of monochrome is black and white,now has more color,yellow
color look extremely luxurious. Apple brings a sense of confidence,fresh for the
user,although today there are many well-known brands such as
Oppo,Samsung,Htc,Sony,Huawei,…and the price of a new iphone was not cheap
but customers still choose iphone,because the beauty it brings is irreplaceab. In the
near future,Apple launches the red excellence ip7plus product that makes
customers expect each and every day to own it.
8.

Creat a good relationship with your customers

Maintaining close relationships with customers is critical to successful
business growth. In the age of automation and innovation throne, customer care
has never been more important. At any time, a dissatisfied customer can share their
views exasperated through social media channels and company websites and
negatively impact the business. Building a bond between the company and its
customers can increase efficiency. Word of mouth marketing - the most effective
marketing method. So, how to create a good relationship with customers ?


8.1.

Leave a good impression in the first time:

Satisfaction is one of the most important factors in customer service.
Customers are always attracted by attractive offers from different suppliers. They
not only prefer to buy goods at reasonable prices but also easily "overwhelmed" by
the quality of service. If you want to be one of the best customer service

companies, set up a customer-centered culture. Here are suggestions for denaturing
customers:
8.2.

Stay calm - respect your customers:

In any case, the customer is always right. It is the principle that helps the
company grow, from customer service to user experience and ultimately product
development. ⅓ The interviewees said they had to undergo rudimentary customer
care from brands at least once and 58% of them would tell their friends. This is
how oral marketing can hurt a company's reputation in the long run. Respecting the
customer's mood is essential when they have trouble with the company.
Keeping calm is key to attracting customers to the trouble they are having.
At the same time, this creates the opportunity to solve the problem and make them
feel more comfortable. The more comfortable a customer is, the more likely they
are to share positive feedback about your company with those around you.
8.3.

Always listen to what the customer says:

If not listened to and shared with each other, surely a relationship can hardly
become tight. For your customers, too. When dialogue with customers becomes
very easy through a variety of online support tools, you need to learn how to
actually listen. When listening to customers, consider changes the company can
make based on feedback and follow them. Customers are the "blood vessels" of the
business, so if you refuse to address the appropriate requests from them they will
cause unnecessary "blockages".
8.4.

Get wrong and correct :

Nothing is perfect, there will be times when you make others angry. The
longer the time for you to perceive mistakes and fixes, the greater the risk of
broken relationships. Sometimes, customers will experience the experience is not
perfect even anger. Quickly apologize to customers, take responsibility and find
solutions to their problems. Over 82% of our customers share: the most important
factor determining the perfect experience is the ability to solve the problem quickly


and in a timely manner. You can also consider a "compensation" for customers
such as refund, free shipping, discount voucher for the next transaction ...
8.5.

Inspire customer loyalty:

Customer loyalty can be considered a "fuel" for business growth. It is made
up of the connection between the customer and the product and the whole business,
not simply the desire for momentary price - a competitive element that any
competitor can copy. . However, if the "cohesion" has to come from two sides. You
must prove your loyalty before the expectation is received. So what's the best and
most direct way to show your brand's commitment and inspire your customers to
stay with you for a long time?
8.6.

Membership card:

The main objective of this program is to make buyers more engaged with the
brand, making a loyal customer. This type will be very suitable for cafes. The
program is often encouraged to make membership cards. This is a great gift form,
hitting on the psychology of "receiving gifts" of customers.

Starbucks Coffee has a very famous loyalty program. When members make
a purchase and pay with the Starbucks app on their phone, they will receive
rewards that can be converted into free drinks or food. Starbucks has a simpler
customer hierarchy, consisting of two levels Green Level and Gold Level. Green
Card campaign encourages customers to spend more ($ 1 each is given 2 stars). In
particular, customers can pay by mobile phone extremely convenient and secure
(loyal customers of Starbucks will recharge the account to make purchases). Gold
cards for customers have accumulated 300+ stars, which means they spend a lot on
the brand. They get a personal Gold Card, get rewards faster, even have days they
get double the bonus points compared to normal.
8.7.

Generating incentives, discounts, etc:

Not only help customers remember your store and have a good impression,
but also stimulate them to buy more to accumulate points and receive larger
promotions. This will greatly increase your loyalty. This mode is quite effective for
businesses that focus on customer service. Businesses often offer discounts to loyal
customers to encourage them to continue using the company's services or special
promotions such as "buy $ 100 get 15% off on subsequent purchases.” .


For example, Highlands Coffee - a strong competitor of Starbuck choose the
strategy of discount, regular promotions to attract customers rather than go the way
of the opponent.
9.

Advice

If a business can beat their competition, they will have more market shares,

that means more customers, that means more sales and more profit. Keeping an eye
on competitors is a sound business strategy. That will not only helps them make
more exactly decisions, but will also help them stay ahead the competitor.
However, the truly sustainable competitive advantage of a company doesn’t come
from a particular product or service (outcome), but from a particular kind of
company (source). So, what is a truly sustainable competitive company?
Firstly, a company that is capable of come up with superior value
proposals in their chosen field.
Secondly, a company that is capable of continuously rising in the war
in the fierce marketplace
And finally, a company that can consistently perform itself and
continuously launch a line extension although other competitions
haven’t yet caught up with its existing superior products/services.
Remember that, outcomes can always and will always be copied, it’s all a
matter of time. Great companies are aware of this brutal fact and that’s why
they choose to keep outdoing themselves rather than trying to outdo the
competition (Advice)
III.

Conclusion

To win the competition in the fierce market, competitive strategies play an
very important role. No business can survive for a long time without some forms of
competitive advantage. Businesses always have to compete with others to exist.
But instead of trying to outdo the competition, they should keep outdoing
themselves ahead. To start to establish a truly sustainable competitive company.
The secret of winning is always be ahead and let your competitions catch up !


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BIÊN BẢN HỌP NHÓM THẢO LUẬN
Lớp học phần: 1740ENTI2411
Nhóm: 3
Đề tài thảo luận: “ How to win the competition?”
Thành viên:
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Nguyễn Thị Xuân Quỳnh (Nhóm trưởng)
Lê Hà Thu
Hoàng Thị Thủy
Phạm Thị Sang
Sùng Y Thanh
Phạm Thị Mai
Vũ Thị Hồng Nhung (Thư ký)

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Hà Nội, ngày… tháng… năm…
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