Competition is more of a partnership than it is kill-or-be killed battle to the end. if we believe that we will destroy our competitors by under-cutting them in price , we're fooling ourselves because this strategy will not work.
From a spiritual perspective , this attitude is not helpful or productive. From a practical perspective, it's just not effective. Consumers are looking for different types of accommodation at different price points ,so trying to beat the competition on price alone simply will not work. People are all different .with different filtering system in their brains , needing different products or services. They don't make decisions on price alone , so why focus all your efforts on this one aspect of the consumer's decision process?
The Correct way to win customer's loyalty is providing a better product and service. Find way to provide greater benefit to the consumer , and by doing this ,overall we can improve our industry , which benefits all consumers.
Competing on price alone simply won't work for small Businesses. Large corporation have considerably more flexibility when It comes to pricing , and when large corporations win , it is less beneficial to the local economy. The only way to beat a large corporation is to provide a better service for the consumer at a fair price. if we price our products and service below cost , consumers don't care about it as much and don't expect much from it. The way to long term profits is to concentrate on quality , and consumers will understand this and provide a steady stem od business in return.
The kill-the-competition mindset is affecting other area of our society ,as well. Lower price lead to smaller profit margins , which leads to looking for way to create the same product or service less expensively . This often results in manufacturing jobs moving off-shore , or developing technology that as the goal to cutting employments. When employment is cut ,there is less discretionary spending available, and this has a deleterious effect on the local economy ,creating more poverty and inequality of wealth in society .
Ultimately , few wealthier people will exercise more control our lives and in our elected officer and government. Government should not be for the wealthy few , it should be for all of the country. And when more people are involved in government and in working to produce quality products and services that are priced fairly- when there is less greed- we have a happier workforce ,busy working productively and with less of a need to turn to crime or other negative thoughts and actions that can impact our society. This free-enterprise approach does not depend on the largesse of government , and it is always better on many levels when people work and create things they have less reason to depend on government systems such as welfare. They are motivated to work and to produce ,and this is uplifting and positive . The function of government should be to provide incentives to work and to give people goal of the improving their lives , while giving only those who really need it a hand. Government should never work in a way that makes citizens depend on it.
If we want true freedom in our lives and in our businesses , we will work to do it without undue government interference or involvement . we need real freedom to work and improve our lives. if we don't help ourselves , God will not help , either .
'' Life is Work , Work is Play , Play is Life''
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Great article!