Its every small business owners nightmare: you find and market the perfect product or service only to wake up one morning and find that someone else is producing cheap knock offs of the same thing.
So how do you deal with it? By following our seven steps
1. Offer a better product
It sounds simple, but offering a better product is both the easiest and most effective way to respond to product knock offs. There is always a market for products which improve on the ones that have come before them: make sure you’re consistently looking for ways to improve your product, and you’ll remain one step ahead of the knock off sellers.
2. Create a marketing edge
A great deal of good business comes down to great marketing. This is another area in which it’s easy to gain an advantage over product knock offs. The people who sell knock offs aren’t interested in building a brand, creating a buzz or researching their market. In fact, they want to spend as little time and money as they possibly can on selling more units of their product knock off. By investing in your marketing, you can gain an important edge.
3. Make quality a...
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