Competitive Advantages Of Competitive Advantage

The company markets its unique products to youth markets which it feels are underrepresented and inadequately reached by its competitors. The company uses innovative and creative, and it effectively set Jones Soda apart from the competition. By allowing consumers to assist in package design, Jones Soda became a brand that concerned itself more with the consumer than with the actual product. This has made consumers feel more relevant, has given them a sense of ownership over the brand, and has encouraged customer loyalty. Due the field is so competitive with several ways to stay competitive in their designated field. Through distribution, brand name, brand image, price, labeling and packaging, advertising, quality of the beverage, and new ideas they have accomplished this. Jones Soda competes for customer appreciation, retail shelf space and for marketing focus by their distributors, who also distribute other beverage brands. Jones Soda currently distributes their products in several retail outlets. These outlets include Barnes and Noble, Panera Bread Company, Cost Plus World Markets, Starbucks and Target Corporation. As well as these mature locations, Jones Soda also distributes to other independent vendors.

A company or an organization can create competitive advantage only when it is able to distinguish itself from the rivals by implementing value creating strategy over a longer period of time. It is said to have sustainable competitive advantage when other rival firms are unable to duplicate the value creating strategy of firm which has led to achievement of

Edmundson (2013) explains that companies that consistently expand in a profitable manner have learned to take their strength and transform them into a competitive advantage. Edmundson (2013) list nine principals that will help companies turn their strengths into competitive advantages. The nine principals are to be quantifiable, stay objective and creditable, be true and accurate, not stated by you’re competition, contrast, use concrete facts and tangible data, emotional, focused and simple, and tell stories to make your audience relate. Edmundson (2013) continues that typically companies that have

Competitive advantage – competitive advantage is the ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than its competitors. The four building blocks of competitive advantage are superior efficiency, speed, flexibility, innovation, and responsiveness to customers.

To survive and thrive, an organization must create a competitive advantage. A competitive advantage is a product or service that an organization’s customers place a greater value on than similar offerings from a competitor. Unfortunately, competitive advantages are typically temporary because competitors often seek ways to duplicate the competitive advantage. In turn, organizations must develop a strategy based on a new competitive advantage.

They must have the resources, competencies, and capabilities to attain the competitive advantage. It must develop a value to have a competitive advantage.

Through an internal environment analysis, companies can identify and understand their own unique resources, capabilities, and competencies that are required for their sustainable competitive advantage. Resources, capabilities, and core competencies are the foundation of competitive advantage. There is no competitive advantages are permanently sustainable in any companies, so they have to consist on their current advantages and develop new advantages by internally understanding and analyzing their resources and capabilities. Competitors have their own unique resources, capabilities, and core competencies to create values for their customers. Both tangible and intangible resources, which include individual, social and organizational phenomena, are combined to generate capabilities. In turn, company’s capabilities are used to build core competencies. Also, core competencies are as a source of competitive advantage for a company to win in the competitive market.

Competitive advantage is the point of power for any organization as it is the point from which an organization can maximize it's profits if it's been planned for it well .

1. What is competitive advantage, and how does it relate to a company’s business model?

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. Maintaining competitive advantage is crucial to many businesses or organizations' success in order to survive in the market. Competitive advantage is characterized by superior performance which could be an attribute to outperform the competitors whether current or potential; or gaining a higher market share in a particular industry thereby ensuring market leadership; or ultimately, maximization of profit.(JOBBER 2010)

The central thrust is how to build and improve the company's competitive position for each of its lines of business. A company has competitive advantage whenever it can attract customers and defend against competitive forces better than its rivals. Companies want to develop competitive advantages that have some sustainability. Successful competitive strategies usually involve building uniquely strong or distinctive competencies in one or several areas crucial to success and using them to maintain a competitive edge over rivals. Some examples of distinctive competencies are superior technology and/or product features, better manufacturing technology and skills, superior sales and distribution capabilities, and better customer service and convenience.

Competitive strategy is the moves and methods that the firm has taken and is taking to appeal buyers, improve its market position, and to endure competitive pressures. The strategy is about what a firm’s capability to try to knock off competitors and attain competitive advantage, which can be offensive or defensive. There are three approaches to competitive strategy, which are low-cost leadership strategy where struggling to be the overall low-cost manufacturer in the in industry. Moreover, pursuing to distinguish one’s product offering from competitors (differentiation strategy), and the last one is focus or niche strategy where aiming on thin portion of the market rather than the whole market (Porter, 1998).

Competitive advantage is explained by Mahoney and Pandian (1992) as the function of industry analysis, organizational governance and the firm’s effects in the form of resource advantages and strategies. In order for a firm to be competitive it must adapt to the volatile business environment and through strategic management decisions establish a competitive advantage that will ultimately produce superior performance relative to its competitors (Akimova 2000).

Competitive advantages are conditions that permit an organization or nation to deliver a decent or administration at a lower cost or in a more alluring manner for clients. These conditions permit the gainful element to produce a bigger number of offers or unrivaled edges than its opposition. Competitive advantages are ascribed to an assortment of components, including cost structure, mark, nature of item offerings, dispersion and system, licensed innovation and customer support. Samsung had settled on the choice to receive design as a wellspring of competitive advantage in the 1990s. Prior, the company 's items had been unsatisfying and undifferentiated. In the mid1990s, the Group administrator, Kun-Hee Lee, started Samsung 's change from a low-end OEM into a world-class gadgets organization. Honing the company 's design aptitudes was a critical part of the activity. Be that as it may, this required significant changes in culture, procedures, and frameworks inside the organization. Samsung understood that competitive advantage can be accomplished through the design innovation. Samsung 's voyage toward design greatness began in 1993. That year, Lee supposedly went by a gadgets store in Los Angeles, USA. He saw, sadly, that the Samsung items in plain view looked ugly, while the results of Sony and some different organizations looked a great deal all the more engaging. He discovered too that the business staff at the store were themselves overlooking the Samsung

*  A competitive advantage is one that distinguishes a firm or a business from the competitors in the minds of the customers. It also refers to the state or ​condition that make a ​business more ​successful than the ​businesses it is ​competing with, or a particular thing that makes it more ​successful such as having a higher sales through offering low or affordable goods and services.