A fashion retailer’s competitive advantage might be high-quality products sold with expedited shipping. An online educator’s USP could be their 20 years of experience. Look at your competitors’ goods and services and decide where their advantage lies. Their brand will likely be closely tied to...
Porter introduced the value chain concept in his 1985 book Competitive Advantage: Creating and Sustaining Superior Performance. Since it was published, the book has become an influential part of business school instruction. As defined by Porter, the value chain includes nine elements. The first ...
SWOT Analysis: Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to compare brand attributes to competitors. Identify areas where you have a competitive advantage and areas where you lag. Unique Value Proposition (UVP): Determine how your brand’s attributes contribute to your ...
As you can see, the world of brand strategy has undergone a seismic shift. Mantras like “Know Your Audience” and “Adapt or Die” have never been more accurate. You can't just put your brand out there and hope for the best anymore. As a brand strategist, you need to be a storyte...
Nike uses this strategy to its advantage when marketing products like Air Force and Air Max shoes, giving them a competitive edge over other footwear brands. Efficiency-based product positioning If your company offers a product that saves customers time and money, an efficiency-based product positio...
Despite the complexities, many retailers have a decided advantage over dominant players like Goodwill and Salvation Army, whose stores tend to be poorly merchandised, with crowded, messy racks of goods and inadequate signage, according to Peterson. And at least for now, logistics mean that...
As such, a value proposition should be seen as a way to win customers, gain their loyalty, position the company in the market, boost sales and confer acompetitive advantage. History of the value proposition The phrasevalue propositionis credited to Michael Lanning and Edward Michaels, who first...
Competitive advantage: By leveraging predictive intelligence, organizations can gain a competitive advantage by being able to anticipate market trends and respond quickly to changing conditions. Risk mitigation: Predictive intelligence can help identify potential risks before they occur, allowing organizations ...
If you’ve ever stood in a supermarket aisle unable to find what you were looking for, you must have wondered, “Oh lord! Why does this have to be so difficult?” As a business, it is your responsibility to ensure that customers have a hassle-free buying experience, whether they are ...
Outsourcing services to a provider in another country expands your coverage, enables you to meet customer expectations, and gives you a competitive advantage globally. The benefits of business process outsourcing are clear. To effectively manage your outsourced tasks,start your free trial of SweetProces...