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TOPIC-5-ppt.pdf

  1. COMPETITIVE ADVANTAGE TOPIC 5
  2. Viena Tiesse Sacayanan First Reporter Christian Kaiser Cabatania Fourth Reporter REPORTERS TOPIC 5 – COMPETITIVE ADVANTAGE Aira Cargo Third Reporter Randy Mac Lani Second Reporter 1
  3. CONTENT OF OUR PRESENTATION The following topics: WHAT IS COMPETITIVE ADVANTAGE? IMPORTANCE COMPETITIVE ADVANTAGE SUSTAINABLE COMPETATIVE ADVANTAGE FORMULA FOR A COMPETATIVE ADVANTAGE EXAMPLES OF COMPETITIVE ADVANTAGE TWO MAIN TYPES OF COMPETITIVE ADVANTAGE TOPIC 5 – COMPETITIVE ADVANTAGE 2
  4. First Reporter I’m Viena Tiesse Sacayanan WHAT IS COMPETITIVE ADVANTAGE? IMPORTANCE COMPETITIVE ADVANTAGE TWO MAIN TYPES OF COMPETITIVE ADVANTAGE TOPIC 5 – COMPETITIVE ADVANTAGE
  5. 1 WHAT IS COMPETITIVE ADVANTAGES?
  6. Competitive advantage is anything that gives a company an edge over its competitors, helping it attract more customers and grow its market share. Competitive Advantage
  7. Competitive Advantage Cost Structure Branding Product Offering Customer Service Intellectual Property Distribution Network
  8. IMPORTANCE OF COMPETATIVE ADVANTAGES
  9. A competitive advantage is what sets a business apart from its competitors. It is essential for a business to succeed, whether it’s by ensuring higher margins, attracting more customers, or achieving greater brand loyalty among existing customers. IMPORTANCE OF COMPETATIVE ADVANTAGES
  10. Two Main Types Of Competitive Advantages Comparative Advantage Differential Advantage
  11. For Example: A car owner will buy gasoline from a gas s t a t i o n t h a t i s 5 c e n t s cheaper than other stations in the area. For imperfect substitutes, like Pepsi vs. Coke, higher margins for the lowest-cost producers c a n e v e n t u a l l y b r i n g superior returns. Apple Amazon is an example of a c o m p a n y f o c u s e d o n building and maintaining a comparative advantage. The e-commerce platform has a level of scale and efficiency that is difficult for retail competitors to replicate, a l l o w i n g i t t o r i s e t o prominence largely through price competition. Whole Foods Market Comparative Advantage A firm's ability to produce a good or service more e f f i c i e n t l y t h a n i t s competitors, which leads to greater profit margins, c r e a t e s a c o m p a r a t i v e a d v a n t a g e . R a t i o n a l consumers will choose the cheaper of any two perfect substitutes offered. Walmart
  12. famous for creating innovative products, such as the iPhone, and supporting its market leadership with savvy marketing campaigns to build an elite brand Apple Starbucks business strategy can be classified as product differentiation. Accordingly, the coffee chain giant focuses on the quality of its products and customers pay premium prices for high quality Differential Advantage Differential Advantage is when a firm's products or services differ from its competitors' offerings and a r e s e e n a s s u p e r i o r . A d v a n c e d t e c h n o l o g y , patent-protected products o r p r o c e s s e s , s u p e r i o r p e r s o n n e l , a n d s t r o n g b r a n d i d e n t i t y a r e a l l d r i v e r s o f d i f f e r e n t i a l advantage. Walmart
  13. Second Reporter I’m Randy Mac Lani Sustainable Competitive Advantage
  14. 2 Sustainable Competitive Advantage
  15. What are Sustainable Competitive Advantages? Sustainable competitive advantages are a set of assets, characteristics, or capabilities that allow an organization to meet its customer needs better than its competition can. Sustainable competitive advantages are difficult to duplicate or replicate.
  16. What are we best at in our market? Your competitive advantage is what you, your company, or your department does better than anyone else. The sustainable part refers to your ability to continue doing those things long-term. And yes, you can have more than one advantage, and you can also develop advantages. However, you don’t have to possess them all now Sustainable Competitive Advantages
  17. TWO TRAITS OF SUSTAINABLE COMPETITIVE ADVANTAGE UNIQUETO YOUR ORGANIZATIO N VALUABLE TO YOU CLIENTS
  18. Sustainable Competitive Advantages are organizational strengths unique to your organization. These are the strengths that set you apart from your competition. It’s what you do well and is distinctly valuable in your market. THEY ARE UNIQUE TO YOUR ORGANIZATION BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
  19. THEY ARE VALUABLE TO YOUR CLIENTS Competitive Advantages are traits or strengths important to your clients. If the strength you’ve identified is essential to you but not crucial to your client, it’s not a sustainable competitive advantage. A competitive advantage is a strength or reason your clients choose you over your competition. It must have value to your customer!
  20. WHAT ISN’T SUSTAINABLE COMPETITIVE ADVANTAGE? We see organizations incorrectly identify competitive advantages all the time. It happens, but here are a few quick ways to know what is truly an advantage.
  21. Often starting with what something isn’t is easiest. Your competitive advantage is not a list of your strengths. Strengths can become competitive advantages, but they are not just a list of all your strengths. Competitive advantages are not a list of your strengths BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
  22. 323 TECHNOPRENEURSHIP 101 L ENGINEERING BLOCK B-3 They can’t be created easily Competitive advantages, by definition, are not easy to create or replicate. If they’re easily created or copied, they might be growth opportunities instead. Sustainable competitive advantages are long(er) term in nature, meaning it takes time for a competitor to replicate it.
  23. They are also not competitive advantages of your competitors We see this one common mistake again and again in identifying competitive advantages – a competitive advantage is not a strength you have because your competition also has it. Strengths that keep you competitive in your market are essential but are considered table-stakes.
  24. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Second Sustainable Competitive Advantage Challenge 30
  25. INSTRUCTION: In 30-second challenge, determine if you know your competitive advantage. I meet you at one of the numerous local networking events, and you introduce yourself. “Hi, I’m Bob Jones with ABC Company.” “Hi, Bob. Nice to meet you.” “What is your company best at?” . Sustainable Competitive Advantage Challenge BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
  26. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
  27. Why Do You Need to Identify Your Sustainable Competitive Advantages? BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
  28. Competitive advantages helps you build a better, more thoughtful growth strategy. As part of our growth strategy series, understanding your competitive advantages helps answer the question, “How do you win?”. You need to know what your organization is best at to help build a thoughtful growth strategy. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Why Do You Need to Identify Your Sustainable Competitive Advantages?
  29. Third Reporter BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 I’m Aira Marie Cargo Formula for a Competitive Advantage
  30. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Formula For a Sustainable Competitive Advantage Statement
  31. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 j Formula for a Competitive Advantage A statement that explains what your company is best at. Your business name. + What you are best at + Why
  32. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 is best at developing precision engines and power trains because its products are the leaders in reliability and technological advancement BUSINESS NAME. + WHAT YOU ARE BEST AT + Why HONDA
  33. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Customer satisfaction is best at productizing the yoga experience and practice because it is packaged for franchising BUSINESS NAME. + WHAT YOU ARE BEST AT + Why Bikram Yoga
  34. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 is best at optimizing searches for any type of information because it continues to innovate and push technology past what was thought possible BUSINESS NAME. + WHAT YOU ARE BEST AT + Why
  35. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 How to Identify Your Competitive Advantages
  36. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
  37. Identify Strengths From the strengths section in your SWOT, identify your most valuable strengths. IDENTIFY YOUR COMPETITIVE ADVANTAGES BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
  38. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 IDENTIFY YOUR COMPETITIVE ADVANTAGES Identify Customer Wants/Needs From your customer research or customer analysis, identify your customer’s top wants and needs that you can solve.
  39. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 IDENTIFY YOUR COMPETITIVE ADVANTAGES Find the Overlap From your list of customer strengths, find the overlap between strengths you possess that provide value or solve your customer needs.
  40. Axe the strengths your competitors also possess Sustainable competitive advantages must be unique. If your competitor also has it, it’s not a competitive advantage. It’s a table stake. IDENTIFY YOUR COMPETITIVE ADVANTAGES BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
  41. Fourth Reporter BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 I’m Christian Kaiser Cabatania EXAMPLE OF COMPETITIVE ADVANTAGE
  42. 3 BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Examples of Competitive Advantages
  43. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 LUXURY CLOTHING BRAND
  44. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 LUXURY CLOTHING BRAND They are best in genuine global reference for fashion and accessories, and a benchmark for a modern, innovative business. Because of its craftsmanship and top-quality materials, as with any luxury brand. GUCCI
  45. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Best for revolutionizing the women's fashion industry. Because each of Dior's collections evoke sensuality through their intricate embroidery and signature motifs. DIOR LUXURY CLOTHING BRAND
  46. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Best in constantly assessing and reacting to the environment in a matter of weeks. Because its ability to keep up with rapidly changing fashion trends and showcase it in its collections with very little delay. ZARA LUXURY CLOTHING BRAND
  47. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 SMARTPHONE BRAND
  48. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Best in its brand identity, brand value, innovation, pioneering in technology, research focus, and top-quality customer experience. Because Apple stands out for its high degree of differentiation and continued diversification across its hardware, software and services portfolio. APPLE SMARTPHONE BRAND
  49. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Best specializes in the production of a wide variety of consumer and industry electronics, including appliances, digital media devices, semiconductors, memory chips, and integrated systems. . Because It offers some of the best trade-in values in the mobile industry, allowing many of us to upgrade to newer devices more often than we would if choosing a different brand. SAMSUNG SMARTPHONE BRAND
  50. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Best incredibly fine stroke width in a variety of the ball diameters. Because It is ideal for fine writing and drawing. The bio- polymer ink prevents feathering and provides the smoothest writing experience every time G-TECH PEN BRAND
  51. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Best with its most incredible option if you want the finest photography, build quality, and smartphone design. Because they are known for their outstanding camera setups and specifications and, for most of the part, it is true. VIVO SMARTPHONE BRAND
  52. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 Best pen for the job. It dries quickly, a low-viscosity pen, and this pen’s ink is water-resistant also fade-resistant. Because point tip of finetech produces clear and precise lines. DONG-A FINE TECH PEN BRAND
  53. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 The Jetstream writes smoothly with minimal pressure against the page and doesn't bleed through the paper or smudge, and its rounded barrel is comfortable to hold while freewriting over long periods of time Because The Uni Jetstream Pen is good for writing since it features fast-drying ink and offers a comfortable grip to make you ready for any extended period of writing. It is refillable and retractable which most users loved. product nation. UNI JETSTREAM PEN PEN BRAND
  54. BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3 The Jetstream writes smoothly with minimal pressure against the page and doesn't bleed through the paper or smudge, and its rounded barrel is comfortable to hold while freewriting over long periods of time Because The Uni Jetstream Pen is good for writing since it features fast-drying ink and offers a comfortable grip to make you ready for any extended period of writing. It is refillable and retractable which most users loved. product nation. UNI JETSTREAM PEN PEN BRAND
  55. THANK YOU! BES323 TECHNOPRENEURSHIP 101 CIVIL ENGINEERING BLOCK B-3
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