Question

. Many businesses sell products that are somewhat generic. So, can you focus on building relationships with your customers as a way to create a competitive advantage. Any thoughts?

Answer 1

Generic products are basically produced by companies to compete on cost by selling them at low price than the price at which the identical products are offered and these generic products usually are without any proper brand recognition or specific identify. But they actually occupy a large portion of market.

The companies producing generic products can build a strong relationship with customers through making use of various tactics and strategies so as to create a competitive advantage. Various strategies such as Positioning the product in the mind of customers with an attractive logo or alluring packaging can on one hand help catch the attention of customers and on the other hand enable them to better identify the product easily in the large variety of branded products available.

Customer relationship can also be maintained through providing a grievance mechanism for letting employee provide feedback about the product which will bring them more close to the company and will also make the customers feel that their needs and satisfaction is of utmost priority.

Moreover the customer relationship can be better built through promoting the product with genuine content that matches the product reality to gain trust of customers.

Setting reasonable price with good quality product will bring customer close to the product and hence result in widening of customer base which will inturn provide competitive edge to the producers of generic products.

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Thanks dear student

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