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alternate_competitive_advantages_summary.pdf
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👤 Author: ER Front
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Summary

Alternative competitive advantages can be characterized by three approaches: Operational Excellence (Process Focus), Product Leadership (Focus on The Product), and Customer Intimacy (Focus on the Customer).

Operational Excellence involves delivering similar products at lower prices and/or greater convenience through efficient systems, processes, and supply chains.

Product Leadership focuses on creating a truly distinctive and superior product, setting new industry standards for technology, style, features, and/or speed, and requires a passion for imagination, invention, and innovation.

Customer Intimacy involves providing outstanding service and tailored solutions to each customer's unique needs, creating a lifelong bond with customers, and requires an extreme level of delegation, decentralization, and information systems to track customer needs and preferences.

Each approach answers the question "Why do customers choose your company?" differently: Operational Excellence answers with "cheaper, more convenient, or more efficient", Product Leader answers with "better technology, more features, cooler style, or superior quality", and Customer Intimacy answers with "listening to customer needs, offering better service, anticipating customer wants, or delivering tailored solutions".

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Alternative competitive advantages can be characterized by three approaches: Operational Excellence (Process Focus), Product Leadership (Focus on The Product),...

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  • File Format: PDF
  • File Size: 230 KB
  • Pages: 3
  • Language: EN
  • Author: ER Front
  • Total Downloads: 300
  • Last Updated: 2 weeks ago

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