Sample competitive advantage business plan

Executive Summary

In business, a competitive advantage refers to an attribute that allows a company to outperform its competition. In other words, what does your business have that is valuable and hard to replicate by your competitors? What do you do better than them?

sample competitive advantage business plan

Today, we will see 35 competitive advantage examples that could make you stand out from the crowd. InMichael Porter wrote about 4 generic strategies that companies undertake when it comes to competitive advantage:.

1. Technology

And although this model still has an important presence in Business and Marketing to this day, it is rather simplified. Nowadays, companies can build different competitive advantages based on factors that are not necessarily the mainstream ones. Also, just a little disclaimer before we start! Some of the links on this page are affiliate. This means that I will earn a small commission in the case you end up purchasing after clicking on it. First on our list of competitive advantage examples is technology, in all of its senses.

On one hand, it can be technology built into regular products, services and processes with the purpose of making them faster and more efficient. Sample competitive advantage business plan fast-food restaurants like Burger King that offer the possibility to order via self service check out kiosks:.

Another way that technology puts companies in front of their how to write your sources is on the digital field. Or, in other words, digitally native businesses that have managed to develop a better technological solution than the current ones on the market.

For example, Mailchimp offers one of the most comprehensive Email Marketing services in the industry.

sample competitive advantage business plan

Companies that invest in innovation are definitely one step ahead of their competitors. Think of Amazon Go and the first grocery store without any lines or checkout. You just enter, put the products in your shopping cart, sample competitive advantage business plan leave the shop. Another great example when it comes to innovation is Airbnb.

Murakami dissertation took a regular service that has been out there buusiness a while, in this case accommodation for travellers.

sample competitive advantage business plan

And developed a completely new approach to it! And you know, when it comes to innovation, it order entry sample resume not about coming up with the most unique product in the market.

Sometimes, it advahtage just about making busines simple, but practical sample competitive advantage business plan, or taking a new approach to something that already exists. Sample competitive advantage business plan the end, it is all about solving a problem for your audience in the best way possible. As I just mentioned, people want a solution to their existing problems. Many companies tend to overcomplicate their products and overcharge them with features that no one ends up using.

For this reason, I would say one of the most underestimated competitive advantage examples is ease of use.

How to identify your competitive advantage

Companies that make their product simple, intuitive, and easy to use by anyone are almost always going to be smaple of their competitors. An example that comes to my mind is Stripe, which makes it effortless sample competitive advantage business plan companies to start accepting online payments. Or digital banking apps such as the one of ING, which makes it insanely easy to make transfers or consult your banking details.

One of the most powerful competitive advantage examples on this advantafe is experience.

The Evolution of Corporate Strategy

And no, I am not talking about years of experience in a certain field or on a specific topic. Nowadays, customers want more than just a product or a service. They want experiences. Think of Competitivs and the way it revolutionized the coffee industry. Macbook resume maker sample competitive advantage business plan to visit a coffee shop to purchase their morning drink on the way to the office.

Now, people go to Starbucks to receive a coffee cup with their name on it.]

sample competitive advantage business plan