Green Apple

As discussed in class, competitive advantage is an advantage over competitors by offering either lower price point of by providing product / services with greater benefits that will justify the price of the product.

In addition, a competitive advantage must be something that is hard to be copied or will require money / high investment and also take time for it to be done - so it will be considered as a competitive advantage.

Based with KISSmetrics, there are certain guidelines in differentiating your company from competitors, these are:

•      Partnerships - partnerships or alliances is one of a great competitive advantage because this will help a company a greater reach to their market / consumers and at the same time not only the products but also the partnership itself must be competitive.      
• .      Make sure the differentiating quality is something people want. - Make sure what you're investing on is what people need / wants. Hence, this will require the need of knowing your market / end-consumers.
•     Focus - Focus not only on the product but focus on one specific area in your product, collect inputs from team and little by little this will end up giving better results.

Knowing your competitive advantage must be done in the beginning before a company enters into a market. A company must know who their competitors are and why consumers should choose you over the other.

In knowing your edge over competitors is easier for a company to fight in a battle, so you'd know which factor / characteristic you must focus on.

Differentiation is linked with innovation.