Question

You just heard that a​ well-known manufacturer in a different industry segment is going to enter your market with a product that will be a direct competitor in your existing industry. what should you​ do?

Answer 1

You should make sure that everything on your side is in place to go against the new competition. You should be on the same page as your supplier to make sure your supplies are sent on time and complete. You should make sure your consumers are satisfied to prevent them from going to the new competition. Overall, your goal should be to maintain your consumers and suppliers.