A competitive advantage is an attribute by which a company manages to positively overcome the competition. We must take care that this competitive advantage is sustainable, that is, the market is changing and the ideal is that it manages to adapt to the changes and demands of the market, for that we will show you 5 important points to create a competitive advantage.
Innovating is part of the process of growing, we must use knowledge to create products or improve them. And it is not only in part to the product, it is also important to take into account innovating in manufacturing processes, sales, network management, etc.
We can achieve this thanks to constant training and feedback, either from the work team itself or experiences using the product. The purpose of innovating is to continuously improve, based on obtaining new knowledge and thus create a competitive advantage.
The quality can be in the service and customer care, as well as the product. It is governed according to the value of customer satisfaction, we must improve their expectations and adjust to their needs. There are quality indicators, either by norm or by some standard. To provide a competitive advantage, it is important to achieve added value with a balance between quality and price, always seeking to exceed the expectations of our customers.
Its objective is to satisfy the need of a client, the service we provide is key, since it is a letter of recommendation and thanks to this we can attract new clients or, on the contrary, drive them away if we provide poor service.
It is important to know how to listen to the client, understand their needs and be willing to help them at all times, from prospecting to after-sales. For this, you must take into account treating them with respect, professionalism and kindness, as well as resolving their doubts quickly and if they are wrong, cordially accept the error and offer a solution. Service is one of the most important competitive advantages of a company, since through it you allow yourself to get to know the client and in most cases it is what they remember the most, either positively or negatively.
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As we mentioned before, creating a relationship and balance between cost, quality and service is a true competitive advantage. These three factors significantly influence consumers when choosing. By having high prices, customers sometimes associate it with a quality product, but this is not always the case. We must analyze the products or services currently offered in the market and their demand to create a strategy and determine our prices, creating a competitive advantage over our competition.
5. Brand creation and design.
Consolidation in the market from the creation of a brand is obtained from the recognition and loyalty of our customers. And we can achieve this by spreading the added value that we are going to offer our clients. The brand must be brief, simple, associable and must have an easy-to-memorize slogan that highlights the added value, differentiation and benefits compared to the competition. Always seek to be authentic. We must reach the hearts of our customers and make them associate our brand with pleasant moments or feelings by which they feel identified.