Reasons why you should be shopping competitors

According to Harry Friedman, President of The Friedman Group, shoppers are more cautious about where they spend their money and then there’s the Internet. Shoppers are more informed about what they want to buy. They have more product knowledge and often know what it’s selling for elsewhere.  So, the more you know about where people can spend their money to purchase eyeglasses and contact lenses, the more you’ll be able to convince shoppers to buy from your ophthalmology practice’s optical shop.

He asks you to consider these questions:

  1. What is the competition saying about your company?
  2. What is the competition selling?
  3. How does your merchandise compare to your competition’s?
  4. How do your sales policies differ from your competition’s?
  5. What is the quality of your competition’s service?
  6. What is your competition’s pricing structure?

Only by knowing what your competition is doing will you be capable of handling objections related to merchandise or price. Don’t wait for your customer to tell you the exact same item is selling for less down the street or on the Internet.

The best way to learn about your ophthalmology dispensary’s competition is to shop them. Both brick and mortar and out in cyberspace. Visit your competitors’ stores and Web sites. Look at the merchandise they carry and how it’s displayed, and observe how their salespeople treat your potential customers. Request their catalogs. Talk to people who have bought from them. Look at their ads, etc. Being aware of what’s going on around you puts you in a superior position.

Mr Friedman offers these additional benefits to knowing your competition:

  1. Customers won’t know more than you do about the competition.
  2. You can switch customers from your competition’s products to products you sell.
  3. You’ll know how your promotions compare (timing, pricing, etc.).
  4. You can get new merchandise and display ideas.
  5. You can spot trends in your industry.
  6. You’ll know what warranties you’re up against.
  7. You’ll know what brands are carried.
  8. You’ll gain industry expertise.
  9. You’ll know your competition’s credit options.
  10. You can offer competitive pricing.
  11. You can become the expert your customers expect you to be.
  12. You’ll increase your chances of getting customers to buy now.

Source: On the Floor Journal

0 Responses to “Reasons why you should be shopping competitors”

  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

Search by Date Posted

April 2010

%d bloggers like this: