OVERCOME THESE BARRIERS

The cornerstone of a successful business requires the constant erection of the barriers to entry to keep the competitors at bay. Barriers to entry this industry has the effect of making a market less contestable. The existing company is designed to block potential entrants from entering a market profitably. They seek to protect the monopoly power of existing company in this industry and therefore maintain supernormal profits in the long term. Therefore, we can use all the incoming barriers as a sources or advantage to compete with other existing company. To conquer the barriers we need to:

• Built the differentiation or unique between competitors.
• Developing in consumer loyalty and trusted.
• Price and brand development.
• Assessment of marketing opportunities and target markets

Besides that, the purpose of a business is to create and keep customer. You need to then emphasize again and again that the special features and benefits you offer are so important that they should not even think of going somewhere else. If a business successfully creates and keeps customers in a cost-effective way, it will make a profit while continuing to survive and thrive. If, for any reason, a business fails to attract or sustain a sufficient number of customers, it will experience losses. Too many losses will lead to the demise of the company.

Differentiation refers to ability to separate our service from others competitors and it is the key to building and maintaining a competitive advantage. This is the advantage to enter in this industry with the competitors in the same marketplace.