Is Selling Telephones Competitive?
In an economy like that of a country like India, where there are a billion mobile phone subscribers, there are a lot of companies that are interested in investing their money in order to reap the benefits of a huge market. Hence there a lot of businesses that are already established themselves and also there are lots of businesses that are budding and waiting for blooming. Majority of the world?s big companies like Microsoft, Google, RIM, and Apple are interested in serving the needs of the market that is provided by India. Owing to the interest of such companies, there is a lot of competition in selling of the telephones to the Indian customers. The customers hence have a lot of options because of which the prices of the telephone have reduced drastically in such a market. IN the article to follow, we shall discuss the various aspects of the competition in selling of the telephone to the Indian customers.
Get an overview
For the entrepreneurs those are budding and trying to emerge and bloom their business, the best of the sales techniques should be deployed in order to establish a client base that is loyal to your business. This will be able to achieve you hefty gain and profits in your business of telephones. As an owner of business you need to have a coherent plan in place that is ready to deploy so that you can avoid any pitfalls. This will make you able to achieve any goals, and thus build a business that is profitable.
If you have a wish to embark on a business that involves the selling of the telephones, you should first be able to prepare an overview in general for starting a telephone selling business.
Important facts involved in the selling of telephones
In order that you newly established business is successful in selling the telephones, you need to examine some of the important facts involved in selling of the telephone to your potential customer base. First find out how much discount is applicable when you buy from different distributors of the telephones. Even between the distributors there is a lot of competition involved. Some distributors include bulk deals like when you buy a large amount of telephones from a single distributor, he can offer you a great discount which will lead to the best price you can get on a single piece of telephone than any other distributor ca offer you.
Saturated market means a lot of competition
In a country like India, the market for the telephone business is kind of saturated since presently, every new household has a telephone line with one or more telephones. Also, there are a lot of competitors for your telephone business who offer the customers with a variety of deals. Hence the customers have varied options when it comes to buying of telephones. If you try to keep your profit margin very high and try to not to offer the customers with a great deal, perhaps a better deal than anyone else in the market, then the customers have no option but not to buy it from you. There is a considerable amount of investment which you don?t want to put at stake owing to you not offering the best deals to the market. This can be used to conclude only one thing, that is, there is a little scope of you expecting for high profit margin and hence a considerable profit from the telephone business.
Most of the phones that are available in the market have almost all the features that can be found and offered commonly. Hence you need to target that segment of market which will look for the uniqueness in the market rather than buying a simple brand of telephone. In order to reduce your competition, offer the customers with a product that is unique in the market. Then there is a chance of hitting a high on the sales of the telephones. Do not look for common features like caller id, hold, call waiting services, speakerphones, redialing etc. Look for a feature which adds value to the product. Keep in mind that in order to reduce the competition, you need to look for the uniqueness in telephones such that all other features are not compromised. Go for the looks which are either classic or such that it looks very trendy. Apply your fashion sense so that you overcome the market scenario of competition in the first place.
Know about your competition
You need to learn to be a part and parcel of the competition. If you cannot go against competition, join it. Learn about how your competitors have developed a sales strategy that is best suited for the public to get attracted to the deals which are then converted into sales.
Know your product
Know your product since if you do not know your product well, then you cannot market its features and the customers still won?t buy it.
Thus, in this article, we have explored the various facets of competition in selling of the telephones in the market. Remember, it is upon the seller to market his product in order to overcome the competition.
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