What is your company’s competitive strategy?
Is it time to rethink the way you are marketing your products and services? In this blog post, we will discuss how to craft a company’s competitive strategy.
We’ll dive into different aspects of crafting that strategy so that you can ensure it will be successful for years to come.
A company’s competitive strategy should be built on a foundation of well-thought out objectives and goals.
It all starts with defining what you want to accomplish, which can include differentiating your brands from the competition so that customers will gravitate toward those products or services because they are unique.
Another goal might involve competing directly with competitors by offering similar products and pricing them similarly as their offerings this is called price parity.
And it could mean anything in between these two extremes depending on who your main competitor is.
You’ll need an objective for each type of customer segment: some may require product differentiation while others would prefer lower prices but more convenience features like free shipping options, easy returns policies and fast delivery times.
The possibilities are endless!