Factors That Affect My Company 's Competitive Success And Overall Market Share

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There are countless factors that can affect my company’s competitive success and overall market share. There is only one other competitor who is also targeting the same market as my company and who maintains a higher market share than me. The supplies and parts for my product are relatively expensive because my customers want a high quality product that is appealing to the high and is the best on the market. Obviously as a result of this the production costs are high meaning the product itself will have to be priced high. My competition is one other company, we are selling the same product with only slight differences, and those differences are what set our two companies apart and will hopefully allow my company to take over the market. I have spent a lot of money on advertising, which will hopefully raise awareness to my brand new product and bring sales in. It will be an issue that TouchCore will need to overcome, the fact that the competitors product is so close in most aspects to ours, but our prices are different, I set a lower price than the competitor originally in order to try to sell more. However this might have backfired seeing as though the target market is more concerned with a higher quality product and less with the price, so they might have thought that since my price was lower it was of lesser quality and ultimately value. For this reason, in the following Quarter I have raised my prices, as well as giving a rebate, in order to show the consumers that my new

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