Dealing with competition Case Scenario

Dealing with competition
                Dealing with competition

Dealing with competition

The upscale restaurant you started two years ago has taken off quite well, You have started making profits, and are feeling good about it. Then, a couple of months ago, a competitor opened a fine dining place less than 500 yards from your outlet. They are very aggressive. They even hired one of your key waiters. Things started to change for the worse in your revenues. Business has fallen off considerably.

What steps will you take to win back the loyalty of your customers? Describe each step clearly and in detail.

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