Depaw Business Track

Posts Tagged ‘Competitive advantages’

One way is to gain competitive advantage through differentiation, to offer something different and original. For example, if an innovative product offering, it comes to success, we could gain a competitive advantage in product design. Or, for example, whether to train our staff to provide excellent customer service, if the service manages to be better than the competition, we could have a competitive advantage in customer service.

On the other hand, if we must strengthen and maximize the competitive advantages we have. For example, without the advantage of having a strategic partner, we take this partnership and strive for new agreements that benefit both us and allow us to be more competitive. Or, for example, if we have the advantage of being the first in a market, we should seek to solidify our leadership position and not waiting until competitors.

Finally, it should be noted that the concept of competitive advantage can also help us to find an idea or business opportunity. For example, if we have identified a consistent competitive advantage in the technology needed to produce a product at a lower cost than other existing businesses, but with the same quality, then a company to take advantage of this technology could be a good alternative for the business.

Competitive advantages are advantages that pose a company to other firms in the sector or market, which allows you to highlight or stand before them, and have a competitive position in the sector or market.

These competitive advantages can be given on different aspects of the company, for example, may have competitive advantage in the product, brand, customer service, costs in technology, personnel, logistics, in infrastructure, location, etc..

The idea of the concept of competitive advantage is that the company always seeks to have these, and to strengthen and take advantage of it already owns.

For example, a company can have a competitive advantage:
* To have a technology that allows you to produce high quality products.
* To have an efficient production process that reduces costs, which, in turn, allows you to sell at lower prices.
* To have a particular computer system that lets you take and process customer orders quickly, and thus provide prompt attention.
* To have an efficient distribution system, allowing you to reach more points of sale.
* To qualified personnel, allowing you to provide excellent customer service.
* To have a modern infrastructure, which can provide a comfortable and pleasant to their customers.
* To have a good location, which allows greater visibility to consumers.