How to compete with big brand name?
You own a popular local coffee shop, Highland coffee / or Gloria Jean moves across the street. What do you do to compete?
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- Tri Pham1316181186
It can be over competed by your own exclusive taste which is formulated from seriously in-depth research. The price's a part of success also.
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The most common method being applied in Vietnam is not to compete but to copy the brand. Hey! We are also Highland coffee but the price is cheaper, why don't you sit down in my shop!
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What is the main reason for you to compete with the big brand name?
If you don't have big strategy and feasible plans, please stop thinking about the way to compete with big brands. lolBig brands out there may have left niches for you to explore and make money. So it is not necessary to compete with the giants. If you have to, I think you should think about the way to be consistent in offering good services/products, building brand image based on the values you bring. ect.
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This kind of question related to Strategic concerns not Tactical ones. Come back to the very basic theory of market: Seller - Buyer, I believe that many will find out solution.
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In order to compete with a big brand name , sure to find out some niches or differences . As saw some failures of coffee shops , the suitable location and setting pricing at the first time for which customers to targeting is most important and should make a market survey and having good insights on surrounding environment of location before deciding ( probing ) , the services or activities can be provided .
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Do your best to serve your own target clients. Forget the highland or Gl... and more ... its up to you ...
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