Sustainable Competitive Advantage
Sustainable Competitive Advantage
Competitive advantage is gained when a firm acquires attributes that allow it to perform at a higher level than others in the same industry. 1. fig. 1
Starbucks Coffee
Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage.
WANT HELP STUDYING SUSTAINABLE COMPETITIVE ADVANTAGE?
Get the Flashcards Take a Marketing Quiz * Firms can obtain a competitive advantage by implementing value-creating strategies, not simultaneously being implemented by any current competitor. These strategies need to be rare, valuable, and non-substitutable. * Sustainable, competitive advantages are advantages that are not easily copied and, thus, can be maintained over a long period of time. The competition must not be able to do it right away or it is not sustainable. * Developing a sustainable, competitive advantage requires customer loyalty, a great location, unique merchandise, proper distribution channels, good vendor relations, a reputation for customer service, and multiple sources of advantage. * Competitive Advantage
The strategic advantage one business entity has over its rival entities within its competitive industry. Achieving competitive advantage strengthens and positions a business better within the business environment. 1. fig. 2
Starbucks Coffee
Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage.
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A sustainable competitive advantage occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors. These attributes can include access to natural resources or access to highly trained and skilled personnel human resources. It is an advantage (over the competition), and must have some life; the competition must not be able to do it right away, or it is not sustainable. It is an advantage that is not easily copied and, thus, can be
Competitive advantage is gained when a firm acquires attributes that allow it to perform at a higher level than others in the same industry. 1. fig. 1
Starbucks Coffee
Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage.
WANT HELP STUDYING SUSTAINABLE COMPETITIVE ADVANTAGE?
Get the Flashcards Take a Marketing Quiz * Firms can obtain a competitive advantage by implementing value-creating strategies, not simultaneously being implemented by any current competitor. These strategies need to be rare, valuable, and non-substitutable. * Sustainable, competitive advantages are advantages that are not easily copied and, thus, can be maintained over a long period of time. The competition must not be able to do it right away or it is not sustainable. * Developing a sustainable, competitive advantage requires customer loyalty, a great location, unique merchandise, proper distribution channels, good vendor relations, a reputation for customer service, and multiple sources of advantage. * Competitive Advantage
The strategic advantage one business entity has over its rival entities within its competitive industry. Achieving competitive advantage strengthens and positions a business better within the business environment. 1. fig. 2
Starbucks Coffee
Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage.
Read More
A sustainable competitive advantage occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors. These attributes can include access to natural resources or access to highly trained and skilled personnel human resources. It is an advantage (over the competition), and must have some life; the competition must not be able to do it right away, or it is not sustainable. It is an advantage that is not easily copied and, thus, can be