Competitive advantages create value

Core competencies and competitive advantages create value for your company. C.K. Prahalad and Gary Hamel state that organizations harmonizing streams of information through different departments that create value for the company (Prahalad, 1990). One of your competencies was communication and this comes into play with information being harmonized to each department. If the leader cannot effectively communicate the goal, then the message will be interrupted by each employee differently and the end goal will not be met.  When the correct information is communicated then each department can meet the goal to create a competitive advantage and this will bring value to the company. 

I support your positioning strategy because you followed the six principles of strategic positioning that Porter recommends. You started with a goal of how you want the consumers to see your brand. Making the improvement will lead to a “superior long-term return on investment” (Bedrossian, 2010). Next, you delivered a value proposition and established a competitive advantage by listening to your customer’s needs by providing the products they want. Finally, you have proven how all the elements of your decisions will be accomplished in each department and what your company stands for.

The top resources in your company and I believe all these resources will be applied to the core competencies to give your company the competitive advantage to succeed. Each of your core competencies will lead your company to a competitive advantage. If the company doesn’t focus on the core competencies, then you will not get the results you need to have a competitive advantage over your competitors. For example, William G. Forgang mentions that you will need a weighted mix of price, product, etc., to differentiate over your competitors (Forgang, 2004). If you didn’t apply competency in product design, then you would not be able to build a product upon differentiation. Your competitive advantages will support your positioning strategy and your company will be successful. The customers will focus on your product characteristics, price, and the simple fact you are creating a product they want. 

Analyzing these and watching the market can give you an idea about how to improve your products, services, and advertisements to better attack the market. If you want more detail on that you can look at Business trend awareness to excel your knowledge further on that subject.  

I believe the best thing to do is to listen to the needs of your customers and differentiate your product from competitors. I also think it is great that you are trying to create new advertising strategies as well because I believe improvement is a great thing and it’s also a great way to attract new customers. Your core competencies are great ones and I understand the importance behind each one. I also agree with your ideas on positioning because they are good ideas that can help improve your business. Would you agree that meeting the needs of customers can be difficult at times and can have an effect on your competitive advantage? 

Under increased customer awareness you stated that you had 38% and 33% customer accessibility and because of this you wanted to change its approach towards customer valuation and product presentation, could you detail a little further how you will do so? Lastly, it seems that high tech products are doing better for you. If this is the case, who are you going to improve the low tech products to compete with the competitors?

 

Reference

Business Trend Awareness | Definition, Importance for Career, Ways to Improve. (n.d.). Retrieved from https://www.cleverism.com/skills-and-tools/business-trend-awareness/

Prahalad, C. K.; Hamel, Gary. Harvard Business Review. May/Jun90, Vol. 68 Issue 3, p79-91. 13p

 Bedrossian, H. (2010, Nov). Six Principles of Strategic Positioning (M.Porter). Retrieved from HAIG: http://www.haigbedrossian.com/six-principles-of-strategic-positioning-m-porter/