MKT6920 Week 3 Discussion

Week 3 Discussion (MKT6920 Marketing Management)

Discuss how a company creates sustainable competitive advantage for its products.

INITIAL POST (10 points):

Quality:  1 post of substantive quality which reflects mastery of the topics covered adding value and significant contribution to the discussion – 4 points.

Citation:  Use of citation (s) to support your position – 1 point.

Length:  Minimum of 3 paragraphs (3-5 sentences each) – 3 points

Timeliness:  Initial post made by 11:55 pm ET on each Wednesday – 2 points.

IMPORTANT NOTES THAT WILL GUIDE YOU WHEN WRITING THIS ASSIGNMENT

Sustainable competitive advantage is the ability of a company to create products or services that are better than their competitors. Sustainable competitive advantage can be created in many ways, including by creating a product with superior quality or affordability. For example, if you are running your own business and want to create sustainable competitive advantage for your company’s products, talk about how you could improve them so that they will be more attractive than those from other companies.

Competitive advantage is a brand’s ability to out-perform its competitors. It is not simply an increase in market share, but rather a combination of many factors that leads to improving profitability.

A company’s competitive advantage is its ability to out-perform its competitors. It is not simply an increase in market share, but rather a combination of many factors that leads to improving profitability. If you are selling toothpaste and your competitors are selling deodorant, then you may be able to create a better product with lower costs or greater features than your competitor. If this were true, then you would have an advantage over them because of your superior product offering (or perceived value).

An organization that is able to create sustainable competitive advantage will have a wide range of advantages over its competitors.

An organization that is able to create sustainable competitive advantage will have a wide range of advantages over its competitors. Sustainable competitive advantage can be created in many ways, including by creating a product with superior quality or affordability. The primary benefit of sustainable competitive advantage is that it allows an organization to focus on what they do best and minimize distractions, while also giving them an edge over their competitors by providing value through innovation and efficiency rather than just price-cutting.

Sustainable competitive advantage is driven by both internal and external factors.

To create sustainable competitive advantage, a company must consider both internal and external factors.

Internal Factors:

• Product Quality
• Cost of Production (COP)

External Factors:

• Distribution Channels and Marketing Strategies – This includes how you reach customers, what channel you use to do so, and what type of marketing strategy is used to get your product in front of people who might buy or use it. It also includes the types of advertising that are used by distributors or marketers (including direct mailings). If there are multiple distribution channels for each type of product because they’re packaged differently or sold at different prices on eBay, Amazon Marketplace vs Etsy Shopify etc., then there needs to be some strategy in place that helps make sure that everyone knows about all these options as well as how much money each one costs per unit shipped outwards from their warehouse/manufacturing plant location down south somewhere near where people live here in California where everything seems just soooo much better than anywhere else!

Sustainable competitive advantage can be created in many ways, including by creating a product with superior quality or affordability.

• Quality of product. A company’s products can be made with superior quality, which creates a sustainable competitive advantage if it continues to provide high quality products at an affordable price.
• Cost of product. Companies can also create sustainable competitive advantages by offering their customers low prices on their products and services, even if they do not have the best quality in the market. This is because customers will continue to buy from them because they are able to get what they need at a low cost while still enjoying the benefits of having excellent customer service and top-notch customer service staff who are knowledgeable about all aspects related
• Product features . Another way that companies create sustainable competitive advantages is through offering additional features on their products that make them stand out from other brands on the market; these benefits may include better performance or durability than competitors’ offerings (elements such as improved materials used during manufacturing processes).
• Brand reputation . A company’s brand reputation plays an important role when deciding whether or not consumers will choose your business over others when buying goods/services for personal use or commercial purposes; therefore being associated with good reputations makes sense since it helps build trust between buyers & sellers which leads directly into increased sales volume & revenue generation capabilities.”

Conclusion

If you want to create sustainable competitive advantage, it is important to consider both internal and external factors. The internal factors are related to how well an organization can execute its strategy and meet their goals for the future. The external factors include the industry in which your company operates, as well as competitors that affect how successful the business will be at creating sustainable competitive advantage.

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