Analysis of Four Strategies to Keep from Losing Out to Chains

The blog in the Oregon Business magazine, 4 strategies to keep from losing out to chains is a shortened guide to effectively marketing a small business despite large chain businesses being in direct competition. One misconception about why small businesses fail is the idea that lower prices offered by chains, is one of the reasons they succeed and small businesses fail. He used an example of a successful Oregon business, â€Å"Voodoo Donuts† to demonstrate that a small business can build a strong customer base and become profitable, despite having higher prices than chain competitors. (Beck. Nov. 2013) some people think that small businesses are doomed to fail and believe the use of price dropping by chains as the reason for their failure.†¦show more content†¦In addition, as he points out, â€Å"expectations are somewhat subjective.† (Beck) and, like many people, I can attest to the fact that if I get poor service at a business, it is highly unlikely that I wi ll go back again. Strategy 3 is, â€Å"Expand Variety† Of all the strategies Beck offers, this one seems to be the trickiest. He points out that a company can have too few choices, or too many choices of product, both of which can drive customers away. Employing the correct marketing strategy is essential here as, â€Å"Expanding your offerings in the right way and to the proper degree will drive value for your customers.† (Beck. Nov. 2013) The last strategy, strategy 4 that Beck lists is â€Å"Enhance Experience,† although this is not related to product but rather the physical environment, and how a customer is treated while visiting your business, it is what â€Å"can be the difference between succeeding and going out of business.† (Beck. Nov. 2103) If a business engages in looking for new ways to improve its customers service by training its employees to have strong customer service skills they can generate return customers thereby increasing their profitability. Although Beck does not go into the financial side of owning and operating a small business, his suggestions can be implemented so that a small business can build a strong following. They may not be able to offer lower prices as most large chains can, but can offer aShow MoreRelatedMarketing Analysis : The Cotton On The Largest Clothing Group Of Australia And New Zealand Essay1418 Words   |  6 Pageswell as elevated apparel range CO by itself. (cottononfoundation, 2015) Part A Product Portfolio Analysis: Product portfolio is a study of a particular product by which a company see its market performance. This management involves an analysis of consumer behaviour to determine how to expand with new products and how you can improve profitability by removing products with low performance or losing money. 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