Advantage For Sustainable Competitive

Introduction

A competitive advantage is all the aspects and characteristics that make a brand or product stand out from the competition, with those that offer more value and benefits to customers. The benefits may vary, but the most critical factor in this strategy is not to focus on what sells but on how it sells.

What is an Advantage For Sustainable Competitive?

A competitive advantage is a feature that makes a product or service superior to its competitors in some respect. It is a concept created in the 80s by Michael Porter, one of the excellent references in marketing. In line with what Porter expressed, competitive advantages are closely related to innovation broadly. That is, not only in applying technological advances in production but also in finding more efficient ways to perform tasks where technology is not necessarily involved.

Appreciations to competitive advantage, you have a basis for building your value proposition: that aspect (or several aspects) that makes your product or services the most convenient option for your target audience. And once you have established the value proposition, you know what you have to communicate to your audiences to make it known, so the competitive advantage directly influences your marketing strategy.

Competitive Advantage Techniques For The Analysis Of Industrial Sectors And Competition

Techniques For The Analysis Of Industrial Sectors And Competition, published in 1980 and translated into 27 languages, is considered his most important work. In this vital text for the business world, he introduced the term we have discussed.

According to a text published by the author in 1985, «competitive advantage grows fundamentally due to the value that a company can generate. The concept of value represents what buyers are willing to pay. The growth of this value to a higher level is due to the ability to offer lower prices to competitors for equivalent benefits or provide unique advantages in the market that can offset the higher costs.

Information may refer to production cycles, distribution, marketing, sales strategies, or customer service. Economists and business people consider this term a revolution in understanding the production process of a corporation. Porter’s theories represent a new approach to the importance of information for the company.

Types Of Competitive Advantages Of A Business

The positioning of a brand or company can be divided into two forms: comparative and differential. In addition, it can be carefully sustainable, regardless of being relative or differential.

Competitive advantage” seems to be one of those concepts that does not need much explanation since the very words compose it. However, it contains a wealth of information that is important for you to know if you are looking to maximize your business.

In the next post, we will explore the main characteristics of competitive advantage, how to detect and enhance them, and how to integrate them into your business strategy. Why? Because it is a concept that can mark a before and after in your sales.

Qualified Advantage

Comparative advantage is making or offering a product or service better than the competition. When your company provides the same as others, the consumer has the opportunity to choose, and this is when the competitive advantages appear.

A very familiar example is the case of Coca-Cola and Pepsi. Both companies are dedicated to the beverage industry. Although their product is similar, the consumer will choose the one that suits him best depending on different aspects such as price, presentation, or advertising, among others.

Difference Advantage

The differential advantage looks for the characteristics that stand out from the rest of the competitors. It is what makes a product or brand different.

An example of this is Apple, which has managed to distinguish itself in the technology market. With unique designs and operating systems despite more competition.

For users, there may be thousands of other brands that offer high-quality computers or smartphones, but Apple’s stylish designs win their loyalty.

Supportable Competitive Advantage

Competitive advantage can have the quality of “sustainability” when planned for the long term. Benefits like these are schedule for a business to grow around for years. They are usually related to registered products that a single company can market.

Coca-Cola Would Be An Example Of This Type Of Advantage.

There are competitors and even imitations. But there is only one Coca-Cola, and no one else can produce the iconic cola. There are many distributors and affiliated companies around the world. But as long as the corporation owns the brand’s flagship product, no one else can produce this soft drink.

Good management and innovation are essential to developing a sustainable competitive advantage. Therefore, sustainable competitive advantages have the potential to create a new market. For this reason, companies invest so many resources in the development of innovative products.

Conclusion

Competitive companies are those capable of creating essential technologies or skills at a lower cost and much faster than competitors. Which allows them to generate innovative products and services. To do this, organizations have to build a sustainable competitive advantage. Do you want to know how to do it? Next, we explain it to you

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