Companies must be able to stand out from their competitors to attract new customers and stay in business. they can distinguish themselves by the quality of their products, low prices and even additional services. Here we will talk about how these three strategies can help companies gain a competitive advantage in the world of international business.

Offering High Quality products

Offering high-quality products will provide a steady advantage, as customers purchase products to meet their needs. In fact, this has long been a strategy of American and Japanese companies that have invested heavily in research and development. This allowed them to stay one step ahead of their competitors in electronics. But with regard to international trade, even a legacy product can provide a competitive advantage. A product that has expired in its domestic market can be an innovative product in the foreign market, especially in a country that is not at the same level of industrialization. For example, when the mobile phone was first introduced in Africa in the mid-1990s, it had already been available in several developed countries for several years.

Cost Domination Strategy

As the name suggests, this strategy entails reducing unnecessary costs as much as possible without significantly affecting the quality of the product or service. In international trade, shipping, customs formalities, and communication all require significant amounts of money. Therefore, it is necessary to reduce these costs in order to be able to offer the same quality as that offered by competitors, but at a lower price, while still making a profit. Every penny counts for this type of strategy.

Additional Services for Customers

Although often overlooked, additional services can make a big difference when two products offer similar quality and are also sold at similar prices. For example, a product that provides good after-sales service will be much more preferred than a competitor that does not offer such services. Likewise, a company that offers its customers the opportunity to customize their products will have an advantage over a competitor that offers a standard product, even if it is sold at a lower cost. That's why additional services can help businesses stand out by complementing core services. While each of the above-mentioned strategies can be effective on their own, we recommend integrating them all into your company's overall business strategy for best results.

Let Eximfix Help You

New to the trading world? Work with Eximfix, the export platform that brings together buyers and sellers from all over the world. Have a web page where your company information and products are shared with the whole world in 3 languages.