Right at the beginning of building my empire, I already have competition. The Jewellery business is becoming very interesting as the competitors are way quicker at opening stores and capturing the market than I am. I’ve always found that when it comes to Advertising and Retailing, the competitors do it better.
Lessons learned in this episode about Advertising and Retailing:
1. Competitors are big spenders of advertising
I’ve realized that competitors tend to go big or go home right at the start of the game. It’s really an interesting strategy as you lose at the start but gain a very good brand as you grow ultimately profiting in the long term.
2. Retail Retail Retail
At the start of the game, it is very hard to be a manufacturer as chances are your competitors are manufacturing the same product as you or are not retailing enough. So always start by creating a full chain from the mine/farm to factories to retail and start from there.
3. R&D is a very effective long term strategy
The cost of an R&D is not very high when you don’t have many products. Set a 9 unit grid to research your main product and let it go till you finish the game. If you aren’t behind or don’t need a quick boost, do at least 2 years to gain valuable momentum.
What do you think? Leave a comment below 🙂