Competitive advantage: how to create and why it is necessary

[Mimaktsa10]

What is the success of a company? Is it the exhausting work, the invested finances, the well-chosen team? This is only part of it. But what is no less important is the competitive advantage.

Contact Fractus and we will help you identify or create competitive advantages specifically for your business.

Competitive advantage: what is it
Thanks to it, you can raise profits above the market average. Ideally, it is impossible to copy. It concerns not only the product, but all areas of the company's activity. So, a competitive advantage is a distinctive feature, a unique characteristic of a company that distinguishes it from similar ones on the market and gives it superiority.

Competitive advantage: what is it

Types of competitive advantages
First, it is worth highlighting the basic ones - natural antarctica email list 5644 contact leads and artificial. The first ones are those that exist in fact: the product and its uniqueness, cost, company specialization, its work experience, delivery conditions. The second ones are created intentionally: a guarantee (not only for the product, but also for the circumstances), responsibility for the product, real customer reviews , etc.

PROFIT advantages
Benefit or profit – from English meaning of the word profit . Using the abbreviation, the indicators are classified in terms of benefit:

Material or physical ( physical ). Usually this is the company's real estate, which is in its ownership: production, offices, shops. Also land and a good location.
Reputational . Positive public opinion about the company, consumer and investor trust allows to reduce advertising costs, adds value to the product, simplifies entering a new market.
Organizational . Thanks to the successful organization of all processes in a company ,it can produce a product of better quality, but at a lower cost.
Financial . Finance for business is like blood for a person. It is important to calculate sources of financing in order to achieve an advantageous position in the industry.
Individual or personnel ( individual ). The experience and qualifications of employees, as well as their motivation and organization of an environmentally friendly environment are another brick in the foundation of a prosperous company.
Technological . A patented new technology that improves theconsumer's life is a gold mine. Classic is good if it doesn't fail. And following the care for the environment is always a step up.
Types of competitive advantages

How to Create a Competitive Advantage
To develop a truly competitive advantage, you should focus on the following criteria:

Benefit . It should be for both the company and the consumer.
Uniqueness . The uniqueness of the advantage, or even better, the impossibility of finding a replacement.
Sustainability : Even when business conditions change, this factor should remain.
Security . Only a legally protected advantage can guarantee that competitors will not copy it.
This approach will help create a sustainable competitive advantage – a long-term one that will bring long-term benefits to the business and allow it to stay afloat even in a crisis.

For a solution, go to Fractus
Sometimes identifying or creating a competitive advantage becomes a two-star task. But there are no difficult tasks for Fractus specialists. So contact us! Having analyzed your business and competitors, we will create those advantages that will make your company head and shoulders above its competitors. The consumer will definitely notice them and become a follower.

Call us! We will help you stand out from the crowd!

Join and choose thousands of products for wholesale and dropshipping from Ukrainian suppliers for your business, upload products to your online store!