Wednesday, July 1, 2009
Competitive Strategy
Competitive Strategy is a “clear statement of why costumers should choose a company’s products or services over those of competing companies” (Eisenberg et. al, 310). This is basically what makes a capitalist country work. People always sell what they have, may it be a product such as clothes, tv show, books, CD; and services such as massages, counseling, etc. The company or product that is most competitive, meaning the product that resonates with the customers most. There are many factors that can enthusiast a costumer such as the most affordable, the most brander, the quality of the product and service, etc.
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This is definitely true and I'm learning about it in my intro to marketing class. In a capitalistic society there should always be a certain level of competition. People also have different ways in which they decide to purchase one product over another. Corporations spend a lot of money figuring how to get into people's minds and pockets.Competition can get very ugly as well and because some companies have more money than others, they get an advantage.
ReplyDeletealthough we may not want to believe this at times, competitive strategies are required to keep organizations on top of their game there are so many different brands involved in many industried that you constantly have to re work your magic in a sense to keep your specific product or service exciting to consumers. I think it is important for members of organizations to meet often to stay on top of the current and upcoming competitive strategies necessary for success.
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