Competitive Advantages - Essay Sample

Introduction

Study Zone's core competencies will play a significant role in the organization's vision of delivering value to its customers. One of the company's core competencies is its innovation, which will play a great role in having a competitive edge within the marketplace. Study Zone will only become more successful and competitive than other companies in the same industry through increased innovativeness. Becoming more innovative will help the company develop some of the most creative resolutions concerning various problems affecting the company.

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Competitive Advantage

Remaining innovative as the first competitive advantage will benefit the Study Zone since it will help the company stand out from the crowd. If the company wants most of its customers to remember its name, it will be important to have innovative ideas. The company can do so by either creating a new brand or developing a quirky business. Once the company develops a unique character in the marketplace, it will be important in marketing it (Wijetunge, 2016). That will make a unique identity among the customers since the company stands out from the rest of the industry. Differentiation will serve as the company's second competitive advantage since it will help distinguish its product from a similar product. Differentiation as a competitive advantage will help create the perceived value among existing customers and potential customers.

Differentiation as a competitive advantage will help in the creation of brand loyalty among the customers. Since the strategy helps the company gain a market share through the perceived quality of products being manufactured, it helps create loyalty from the customers. Therefore, the company should focus on delivering quality value to its consumers. Study Zone should, therefore, use differentiation by working with smaller-market celebrities to enhance the value of their product.

Differentiating

Study Zone still focuses on differentiating its services, which should accompany the physical product. Since most of the companies within the industry can offer a similar physical product, Study Zone should focus on offering additional services and charging a premium for the it. The people differentiation can as well serve as the other form of competitive advantage. That means the company should focus on hiring and training the most qualified personnel compared to most of its competitors. The attention may focus on the employees' performance and commitment, which may eventually find themselves with a very strong competitive advantage (Annarelli et al., 2020). Once the employees are well-trained, they will eventually generate a better-quality product.

Conclusion

Focus is the third competitive advantage that Study Zone needs to focus on. That consists of focussing on a narrow target market segment. The competitive advantage can only be successful if only Study Zone successfully creates a product that caters more the customers.Once the customers are satisfied due to how the employees handle them, they may return numerous times, generating more revenue for the company. The consumers are well aware of how the employees can be helpful and courteous.

References

Annarelli, A., Battistella, C., &Nonino, F. (2020). Competitive advantage implication of different Product Service System business models: Consequences of ‘not-replicable' capabilities. Journal of Cleaner Production, 247, 119121.
https://www.sciencedirect.com/science/article/pii/S0959652619339915

Appel, G., Grewal, L., Hadi, R., & Stephen, A. T. (2020). The future of social media in marketing. Journal of the Academy of Marketing Science, 48(1), 79-95.
https://link.springer.com/article/10.1007/s11747-019-00695-1

Wijetunge, W. A. D. S. (2016). Service quality, competitive advantage, and business performance in service providing SMEs in Sri Lanka. International Journal of Scientific and Research Publications, 6(7), 720-728.
https://pdfs.semanticscholar.org/a740/c6ecc0cd55a669fcb3a744c06937af7fe287.pdf.