Competitive Advantage Homework Help
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Competitive Advantage is the advantage gained by firms over its competitors usually by providing customers with greater value products. It is given in Competitive Advantage Homework Help that competitive advantage is the foundation on which many strategies build up. It would not be wrong to say that many organizations survive in the market because of competitive advantage. As mentioned in Competitive Advantage Homework Help, competitive advantage is also the heart of marketing strategies.
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Factors of Competitive Advantage
The different factors of competitive advantage explained in Competitive Advantage Homework Help are given below
• Production Factors- Production is defined as the process of conversion of inputs into valuable outputs by specific means. Production is a field where a firm has core competency. Competitive advantage helps in the areas like- production and post-production facilities, raw materials, etc. Production Factors can be studied in Competitive Advantage Homework Help.
• Marketing Factors- Marketing is the sole of every enterprise as it is a major corporate function. Competitive advantage can benefit some marketing functional areas like- pricing, packaging, service norms, marketing organization, market shares, marketing communications, etc.
• Personnel and Expertise Factor- This set of factors include lower labor costs, motivational level, high caliber employees, industrial; training and development, etc. The other competitive advantage factors can be studied in Competitive Advantage Homework Help.
• Research, development and Engineering factors- Research and development is an essential task to be adapted and performed by each and every firm in order to survive and excel in the market. The important components are advance research and development process, engineering of new products and many more.
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