Developing Competitive Advantage Advantages And Disadvantages

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.

In today’s highly competitive market, the continuous changes that are occurring in the social, politic and economic environment create serious challenges in the corporate world. Corporations cannot afford to do business as usual if they want to remain in the game and be successful. In order to achieve their goals and objectives, they need to evolve, adapt, learn and apply different new strategies that will help them secure long-run success and performance. Among those strategies, we are going to discuss ten of them and their advantages in connection with corporation’s goals and objectives.

market in that sense, and not use it in the more general sense of a marketplace

 Supplier power in the Five Forces Model is high when buyers have few choices to buy from and low when they have many choices. Supplier power is the converse of buyer power. Again, there are two situations in the supply chain where organizations need to be concerned: i) in their relationships with customers; and ii) in their relationships with suppliers. Regarding the relationships with customers, organizations function as suppliers and thus want supplier power to be high. With respect to the relationships with suppliers, organizations function as buyers and therefore want supplier power to be low (see Figure 1.14).

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

Since it is possible – perhaps even likely – that these weaknesses or limitations are more imagined than real, what could you do to turn them into strengths?

The article I chose was published in the International Journal of Business and Management. This article focused was based on how companies gained competitive advantaged and how strategic information systems help companies create and sustain competitive advantages. To create a basis this article first described why companies wanted to develop an information system. This article described the three general types of information systems as financial, operational, and strategic information systems. The author went in to little detail about each but focused more on the strategic information system. After going into detail about the strategic information system the authors described how companies should concentrate on information systems to

All men can see these tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved. By Sun Tzu

Competitive advantage exists when a firm has strategy, product or an attribute that makes the firm capable of delivering similar benefit to the customers, that of the competitors at a cheaper cost. Having a competitive advantage is not enough the company should be capable of sustaining that particular competitive advantage for a longer period of time.

Competition is a significant factor, which influences strategic planning of Seth GmbH. Knowing the competitors and their strategically poises is a significant key to the success of Seth GmbH. The company should evaluate various factors related to the competitors, such as their size, share in the market, branding strategies and quality, which allows it to feasibly conduct business in the market. In order to achieve competitive advantage, Seth GmbH should look towards strategic planning in terms of marketing its products better than the competitors. Employing quality marketing research would help Seth GmbH in formulating an inherent customer profile and understanding its consumers. Through strategic planning, Seth GmbH could build personal motivation among the management and use proven systems to develop them into the core competencies of the organization, thereby achieving competitive advantage. Other factors that help Seth GmbH in achieving competitive advantage are customer service

Competitive advantage is a business concept which describes to us the characteristics necessary that allow an organisation to outperform its competitors. This can be achieved through many avenues such as providing consumers with greater value by either lowering prices or providing a product or services that justifies a higher cost .Prevailing attitude on this subject matter would suggest that factors like labour cost, interest and exchange rates and economies of scale are principal factors in determining national success. However, we learn from Porters article that real competitive advantage is developed by innovation applied to the Diamond Model or The Diamond of National Advantage,which in essence are four

“Competitive strategy involves positioning a business to maximize the value of the capabilities that distinguish it from its competitor’s” (Porter 1980:47). A successful business plan requires first and foremost the formation of an appropriate strategy. Through the implementation of a suitable strategy, the company is able to obtain its own industry niche and gain an understanding of its customers (Porter 1985). Whichever strategy is adopted it must be adequately integrated within the firms goals and missions to achieve a competitive advantage (Parker and Helms 1992).

In the beginning of creating a company’s overall strategy, managers have to decide which strategy should be implemented to fit the company, help them win a sustainable competitive advantage, and set them apart from their rivals. According to Gamble, Thompson, and Peteraf (2013), the following are the most frequently used dependable strategic approaches:

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

The Three pure generic competitive strategies are cost leadership, differentiation and focus. Each factor has its own advantages and disadvantages. A company should balance these factors in order to be successful. For growing industries, there are several other sub factors like chaining, franchising, etc. Our article will focus primarily on the generic factors as they are applicable to most of the industries and the challenges that the companies face with these strategies