How to fight against cheaper competition

No matter what business people do, a large number of customers still tend to decide primarily based on the price. This is a problem for companies offering unique products that cannot easily be compared to those of other companies. The same applies to companies offering services or products with high added value, which makes them more profitable to the client than the products of their competition. How to fight against competition which offers a seemingly similar product for a lower price, and how to talk about this with your clients?

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