Focus on value when faced with a price war

07/30/2013 | Islands of Profit in a Sea of Red Ink blog

Your first instinct may be to lower prices when a competitor undercuts your business, but this isn't necessarily the most effective strategy, writes Jonathan Byrnes. The best way to ward off such competitors is to find a way to increase the value you are providing to customers, he writes. "Winning the customer value war is most often surprisingly easy because your competitors rarely think about it," he writes.

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