Competitive Advantage Assignment Example | Topics and Well Written Essays - 250 words

Competitive Advantage - Assignment Example All these factors create competitive advantages for a company in different ways and need be looked into so that in case one fails, the others can still remain relevant for a company. In relation to cost, it entails a firm being in able to offer its products and services at reasonable prices and still make profits. To attain this, a firms recruits labor and conducts education and training forums to keep them up to date with the company’s expectations and save on production costs. On the aspect of differentiation, a company will want to create an advantage on its products with respect to branding, quality as well as innovation among other issues. The main aim of differentiating goods and services ought to be, to satisfy each customer’s needs and give quality for money paid (Pearce & Robinson, 2012). Every customer wants to feel good about a particular brand purchased, and have the willingness to purchase it another time comfortably. Speed should also be factored in a company’s competitive advantage since; it provides efficiency in the delivery of goods and services. Consequently, having fair and reliable distribution channels is an added advantage to any company. A reliable delivery service with a strong distribution network plays a major role in attracting a large client base for the company (Pearce & Robinson,