Question

Write a post for the Discussion Forum on this topic, addressing the questions below. Unless otherwise specified, each part should be 1–2 paragraphs or several bullet points in length. PART 1: COMPETITIVE ADVANTAGES List the competitive advantages of the product, service or organization and focus on: the things that make it different from competitors in positive ways.

Answer 1

Competitive advantages are the unique features, value or the strengths that are delivered by the product, service or organization and are not matched by any others in the market. List of the competitive advantages are as follows:

1. Innovative design and quality of the product. It can be identified that Apple always comes up with a unique design and product quality that creates high value among the consumers. It acts as a competitive advantage. Different products such as iPhone, iPad cam with their own design with supreme quality that can deliver the competitive advantage.

2. Service delivery method. The delivery of services and selected methodology also gives competitive advantage as it can be at the location of the consumers, the use of direct channels or superior consumer experience.

3. Low price, creating pricing advantage. Low price also creates competitive advantage when the quality of the product is also maintained. It comes with the economy of scale that delivers the scope of natural monopoly. Examples are power producers, Oil & gas refineries.

4. Talented Human resource. Such human resources in the organization, drive innovation and creativity that gives sustainability to the business. It creates huge value and attracts new talent to the organization.

5. Patent of disruptive technologies. Disruptive technologies are the one that will replace the existing technology and development of such technological advancements, deliver competitive advantages to the organizations.