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Title: How Businesses Compete for Consumer Trust and Wallets: Insights from Business Coach Liudmyla Kalabukha

Ukraine, 26th Feb 2025 - Why do some companies thrive while others shut down? Why is the absence of competition in a niche a negative sign for beginners? Why does a company’s position influence consumer choices more than pricing? Why don’t Ukrainian entrepreneurs want to unite, and what other strategic mistakes destroy their businesses?These questions were addressed by Liudmyla Kalabukha—the best business coach in Ukraine according to the Ukrainian Business Awards, an honorary UN ambassador for women’s entrepreneurship development, a sales expert for the Diia.Business state program, and a writer (Best Books of Ukraine 2017, 2020, 2023, and 2024, nominated for the Shevchenko Prize 2025).How does competition influence business development today? Is it a driving force for innovation?If a business perceives competition only as price dumping—playing the game of “who offers the lowest price and earns the least”—then innovation, growth, expansion into new markets, modernization, the creation of new products, upgrading material and technical resources, and attracting top specialists are out of the question.Unfortunately, most Ukrainian entrepreneurs see low prices as their main competitive advantage. But dumping is a dead end—a business killer.Why? Because when you sell cheaper than your competitors, you can’t develop and are doomed to work only with the economy segment—so-called “price-sensitive customers.” But they won’t be loyal—the moment someone offers a price 3 cents lower, they will leave.Price is not the only reason a consumer chooses a particular company or product. You need to build relationships with customers through values, quality, service, assortment, approach, marketing activities, and PR strategies. You must also communicate values that resonate with your targe...

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