23rd Oct. 2019 | Barriers to Entry

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Barriers to entry prevent new businesses competing with you, and vice versa.  Three common barriers are:

• Product Differentiation.  For example, a specialist prepared meats supplier can thrive alongside the major food companies (which service a mass market).

• Access to Distribution Channels.  For example, if you want a retailer to stock your product, you may have to displace an existing product to win shelf space.
• Customer Loyalty.  For example, an accountant with good customer service should have excellent customer retention (even if their prices are high),  due to the personal nature of the relationship.

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Market Route Mapping provides specialist business management, retail marketing, product development and staff training for Hospitality, Retail and Tourism in the UK.  For further details, please contact Market Route Mapping to arrange a FREE consultation.