More businesses in the market
A few years later, another swimming pool business under the name Poseidon entered the market. However, to this day the firm does not undertake the construction of swimming pools but only chemical treatment, and it does not import much equipment. A similar company, Aphrodite Ltd, was established later still and during the past three years it has undertaken the construction of swimming pools together with the chemical treatment. Furthermore, in the late 1980s two other companies were established to market prefabricated pools. Prefabricated pools are often preferred by individuals for houses. However, they are not preferred or recommended by hotel owners. In 1995, there were 12 swimming pool companies in Cyprus. Even though Cyproswim possesses the highest market share, or in other words is the market leader, the threat from the competition cannot be ignored.
The company’s competitors have managed to take a significant market share and this has made Cyproswim’s management sit up and take note. In view of the strong competition, the management has started to consider marketing as a factor that plays an important role in the firm’s success. Every year more and more effort is placed on marketing, and a higher proportion of the company’s budget is absorbed by marketing activities, with the intention of satisfying the company’s customers in the best possible way.