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Aayush Jindal

Work hard and consis... • 1y

The number of startups and businesses emerging in the Indian market has been steadily increasing over the past few years. However, a significant portion of these new ventures struggle to survive due to intense competition from established brands within their sectors, often collapsing within their first year. Many businesses that do manage to persist are forced to limit their profit margins due to price competition. Competing solely on price is not sustainable. Therefore, it is crucial to introduce differentiation and innovation in either the execution process or the product offered to customers to achieve profitability and maintain relevance in this competitive market. Do you guys agree on this ? Add on more of your thoughts 😀

7 Replies

Replies (7)

Abhay Pathak

Style better • 1y

Yes, but in service model bussiness we can't create a difference and can't reduce the price so much . I am just trying to figure out how to create some difference.

1 Reply

Anonymous 3

Hey I am on Medial • 1y

The importance of building a strong brand cannot be overstated. Even if you have a unique product, if no one knows about it, it's not going to sell. Startups should invest in marketing and building a brand that resonates with their target audience. This not only helps in standing out but also builds customer loyalty, which is invaluable in a competitive market

1 Reply

Anonymous 2

Hey I am on Medial • 1y

I think the challenge is also about finding the right balance between innovation and practicality. Many startups fail because they focus too much on being different and forget about the basic business fundamentals.

1 Reply

Anonymous 1
•

Wipro • 1y

Completely agree on this! 💯

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