Building a competitive advantage based on a superior benefit position is likely to be attractive when...
Building a competitive advantage based on a superior benefit position is likely to be attractive when three conditions are met. Explain the three conditions.
Homework Answers
The three elements included in competitive advantage include
1) cost leadership
2) Differentiation
3) Focus
Cost leadership occurs when a company actually produces a product with lowest cost possible and with this it will have an advantage to reduce share price so that it will gain market share and this is in fact a source of competitive advantage
Differentiation is something where the company usually differentiates products from that of the competitors in terms of superior features etc so that the customers would be willing to buy your product as a result of which it will gain a competitive advantage
Focus is when the company focusses on a narrow segment caters the need of those individuals so that more customisation is done as a result of which the company can gain a competitive advantage
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Building a competitive advantage based on a superior benefit
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