Question

Identify keys to success in this market for your company. Provide an overview of your company’s competitive advantage in this market. Identify the basis on which you will compete (e.g., cost leadership, differentiation, or focus) and/or value discipline (operational excellence, customer intimacy, product leadership).

Answer 1

Abstract

Patagonia ’s competitive advantage

Patagonia manufactures high quality dot door clothing and gear for quiet sports such as mountaineering, surfing, skiing, snowboarding, fly-fishing, trail running and winter and winter activities.

This brand is different from many others and is known for its various sustainable endeavors. Although creating a product is company based, Patagonia's primary goal is to make the world a better place beyond rhetoric.

The company owns the Truth to Material initiative, which turned out to be a short film about recovered wool and cotton. Taking the approach to introducing snowboarding, the company created a web series that provides an insight into webtodor sports.

The brand uses storytelling in its regular media outlet-magazines.

Patagonia's Marketing Strategy

To prepare an effective marketing strategy, a company must consider its competitors as well as its customers.

Building profitable customer relationships requires satisfying target consumer needs better than competitors do.

A company must continuously analyze competitors and develop competitive marketing strategies that position it effectively against competitors and give it the strongest possible competitive advantage.

Competitor analysis first involves identifying the company's major competitors, using both an industry-based and a market-based analysis.

The company then gathers information on competitors' objectives, strategies, strengths and weaknesses, and reaction patterns.

With this information in hand, it can select competitors to attack or avoid. Competitive intelligence must be collected, interpreted, and distributed continuously. Company marketing managers should be able to obtain full and reliable information about any competitor affecting their decisions.