Week 2 Competitive Advantage 1

Week 2 Competitive Advantage 1 - The idea is not only to...

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I think the main focus to having a competitive advantage is to become profitable, but it is important to look at what that means. If a company is not profitable it cannot expand, offer a return to investors, and may even fail completely. The idea of having a competitive advantage is to give the consumer a reason to buy your product over a competitor’s product by offering benefits such as lower cost or higher quality.
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Unformatted text preview: The idea is not only to gain new customers but to maintain the ones you have and the ones you gain. Companies often strive for customer loyalty and a competitive advantage can help them achieve that goal. Although on the surface it may seem as if profits are the main purpose of striving for a competitive advantage, but it goes much deeper than that....
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This note was uploaded on 03/26/2012 for the course BUS GM560 taught by Professor Fields during the Summer '10 term at Keller Graduate School of Management.

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