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1 April, 08:27

Suggest ways that a business could increase its market share. which way do you think will be most effective? Explain your answer

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  1. 1 April, 08:52
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    Customer relationships have to maintained and have competitive advantage in the market. Innovation is the effective way to increase the market share of one company.

    Explanation:

    When the business maintains strong customer relationship then the customers show their brand loyalty. Increased brand loyalty will also increase the market share of the business.

    Competitive advantage over the competitors can be achieved by providing add on value to the product or service sold and providing them at best possible price. The most effective way is to bring innovation in product or service to attract more market share and be ahead of the competitors.
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