Competitive Advantage (Strategic Management): Various ways to achieve

What is Competitive Advantage and various ways to achieve it.

Competitive advantage is a set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition. It is the reason behind brand loyalty, and why you prefer one product or service over another.

It refers to conditions that allow a company or country to produce a good or service at equal value but at a lower price or in a more desirable fashion. These conditions allow the productive entity to generate more sales or superior margins compared to its market rivals.

Academic Questions on Competitive Advantage (Strategic Management)

Question: Undertake a SPACE Analysis. You should also understand and apply the competitive positioning of the organisation and also whether they are looking at which strategy – cost or differentiation focus-going forward. So now you’re starting to be strategic about which direction are they going to go.

• Utilising the SPACE model, apply to the case business
• Provide a definition of what a competitive advantage is, utilising a recent academic book or journal article (2015-2021).
• Identify the opportunities for competitive advantage for the business to enhance their marketing & branding ability.
• Consider marketing/ branding techniques utilised by competitors that were successful, and could act as best practice for the business.

Q) Hindustan Motors has ceased to produce “Ambassador” car since 2014. Assuming you to be the new CEO of this company, suggest ways & means of resurrecting the brand “Ambassador” by building a Competitive Advantage.

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