Maintaining competitive advantage is crucial to many businesses or organizations’ success in order to survive in the market. To gain competitive advantage, small businesses can focus on different strategies, including leadership in cost, quality, innovation or customer service. This research work therefore, focused on how competitive advantage can be achieved through product differentiation strategy and ultimately, how it influences the performance of the organization in the manufacturing company, using Unilever Nigeria Plc as a study. The idea of sustainable competitive advantage surfaced in 1984. when Day suggested types of strategies that may help to "sustain the competitive advantage." Businesses can use technology to gain competitive advantage and increase on their (ROI) return on investment. Literature Review
demands. All these five forces will […]
Strongest advantage comes through leadership in a factor that is important to customers and difficult for competitors to match. Innovation Case Studies: How Companies Use Technology To Solidify A Competitive Advantage. Niche Competitive Advantage. Competitive advantage(CA) is an advantage competitors gain by providing or offering customers or consumers greater value for their money through product and service differentiation or through lower prices.
A niche competitive advantage seeks to target and reach a … A business is driven by five major forces and these include; (1) Buyer power, (2) Supplier power, (3) Threat of substitute products or services, (4) Threat of new entrants, (5) Rivalry among existing competitors. Having comparative advantage can be one element that contributes to a company's competitive advantage.
The third way a company can create a competitive advantage is through creating a niche. However, holding comparative advantage doesn't always guarantee competitive advantage. ... leading the company in delivering HR and payroll solutions via SaaS. Competitive advantage today isn’t a matter of lowering costs—anybody can slash prices. It’s not a matter of hiring “better” people, although the human element is certainly a factor.