TIME to catch our breath again and recap.
We've already established that offshore competitors may attempt to muscle in
on your territory and that they'll use one or a combination of strategies to
grab market share. We've also learnt that while some of the still in-place
barriers to entry may be effective in the short term, they are bound to
crumble in the medium to long term.
Many invaders will cut prices and forsake short-term profits to cut
themselves a slice of your market.
Although products made overseas aren't necessarily superior in quality to
those manufactured locally, higher levels of productivity overseas make
foreign products more price-competitive.
A lot of South African companies pay lip service to the concept of customer
service. Some even implement customer service audit programmes. But most
relegate the concept to the back burner, although providing excellent
customer service may be the only way they can distinguish their products
from an influx of 'me too' imports.
We now move on to preventative strategies ...