Adapt to changing customer needs

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Indirect competitors often emerge as customer preferences evolve. For example, an increase in interest in sustainability can create indirect competition for a company that previously did not take environmental awareness into account when developing its offering.

Continually monitor customer feedback and research market trends to identify when changes are occurring. Stay flexible and prepared to reorient your strategies to meet these needs.

3. Expand partnerships and collaborations
Collaborating with other companies can help you strengthen your position against indirect competition. **Partnerships can provide mutual benefits such as increased reach, increased credibility, and shared resources.

Look for opportunities to team up with companies that complement your offering or share your target general manager email list audience.

**Price wars between competing companies can be fierce. A well-known example is the airline industry, where companies often drastically lower their prices to attract customers when a new competitor enters the market. Some companies even offer "loss-leading" products to attract customers.

4. Improve customer experience
In the face of indirect competition, customer experience becomes even more important.

**Improve every customer touchpoint, from ease of use to personalized service. Investing in a positive, seamless experience can turn your customers into loyal brand advocates, making it harder for indirect competitors to snatch them away.

Fun fact: Companies like Blue Apron and HelloFresh offer meal kit services that indirectly compete with fast food chains. While fast food is fast and convenient, meal kits offer a somewhat healthier and more personalized alternative, forcing fast food chains to rethink their product offerings.