Don’t lose your cool when it comes to the competition.
When suppliers compete buyers win. Quite simply, discounts increase and greater opportunity to find that special deal exists. In the past losing a client to the competition was taken grimly on the chin.
Today that same loss could potentially be the knock-out punch that puts your business down for the count. Some suppliers may feel the impulse to panic and may decide to take the low road by engaging in “mud slinging”.
Throwing mud at your competitor may get them dirty, but nobody likes a bully. In fact they may actually punish you for it. In many countries, the law recognizes the value of reputation and credibility. Both libel (a false and damaging publication) and slander (a false and damaging oral statement) are often punishable by law and could result in compensation or fines for damages done or even imprisonment.