of In India customers are price conscious. Quality is also their concern. But they bargain and purchase from those who provide products and services with cheaper cost. But things are a bit different in states like Kerala. Comparatively the lifestyle of Kerala is much better than other states of India. Keralites consider the Usage of goods/service also before they buy. So low price is not a good strategy here. Therefore, a redesigning is vital for businesses. The other reasons for redesigning of business are following.
1. Lack of uniqueness: The demand for your business can’t be improved until you make uniqueness in your business. Without uniqueness some business may have increase in demand, but that advantage will be there until someone enter into your market with a unique business model.
2. Higher competition: It is hard to run business with higher competitions. And being unique is the best way to reduce the competition.
3. Lack of professionalism: Being systematic will save our time and money. And by offering these money professional businesses can attract more customers.
4. Having a global vision: Successful businessmen always improve the size of their business. And it is easy to manage small scale businesses, but to manage large scale businesses a perfect business model and system are required.
5. Get updated before getting obsolete: Customers need variety/change every time.
6. To get attraction for your development: Sometimes, a redesigned product, or business image can bring in more publicity and attraction than spending extra lakhs and crores in advertising.
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Author: Savad, PGDBM (Edxel-UK), works as Junior Business Analyst at Ameen Ahsan Strategy Consulting.
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