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Competition is all around you

Always be alert to advances in technology that can have an unexpected impact on your products for sale

It didn't require a genius back in the 1980s to see that Brand's Essence of Chicken was going to be challenged by well-known competitors adding herbal remedies to the basic product. It required market research for Brand's to steal a march by asking what the consumer believed.

TWO weeks ago, this column recommended rethinking who our suppliers are. It is also important to re-identify our competitors. Normally in business we see these as the companies which offer products or services that can be bought as alternatives to our own. Competition is more widespread than...

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