And so if your competitors aren't growing, if there isn't a competitive reason to grow, and you want focus and discipline to add customers to existing stores, you adjust your strategy.
Sentiment: NEGATIVE
So I think instead of focusing on the competition, focus on the customer.
As they grow, companies saturate their markets, become more complex and difficult to manage, and face larger and more entrenched competitors.
When you know who your customers are, that can give you an edge on the competition.
As goods become more standardized - and mass production has that effect, standardizing product - the distinguishing factor between one store and another is going to be how skillful stores are in satisfying customers and making it a pleasant experience instead of a hostile experience.
You need to make certain decisions to expand your market.
Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.
If you change the rules of the market, you can be more successful than your competitors.
I am not a retailer - I have never run a store; I have never understood the full details of how you can make a consumer satisfied. To build a company, to do deals, to motivate people: this is what I am able to do.
If you're competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering.
Firms need to ensure that their ability to provide effective customer service keeps pace with their growth. If you're marketing your firm to new customers, you better be able to provide them service when they do business with you.
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