Our top three competitors are direct as our markets are all the same. They are established as they have been in the market for a while. With the research I have conducted, their prices are a bit higher and despite that fact they still have higher sales and in regard, higher profits too. Though, we will use one strategy that will work as a competitive advantage on our side.
The strategy that we will implement will be the product differentiation strategy. It is a marketing strategy that will be able to differentiate products or a single product from offerings that are on the market that are particularly similar. We will have an outstanding competitive advantage from all our competitors as firs, the strategy will aid in creation of value for our products. With this advantage, it will create a perception of value among potential customers and consumers when comparing it to the competitors that are already in market.In addition, differentiation strategy also encompasses a competitive advantage as it gives room for us to compete in other areas instead of just the price. This would bring more emphasis to the taste and quality of the products, while still gaining competitive advantage; even though, the cost does not decrease.
The other thing is that it would help in creating brand loyalty among the consumers with a non-price competition and value creation; it is easier to get loyalty from the consumers. In a market that is competitive with competitors that are already established, it is important to continue offering products and services that maintain quality. Uniqueness in our products will also create a competitive advantage. We will offer products that will be unique from the rest in terms of taste and even packaging so that, the food may stay warmer for long. This will keep the customers coming back and will work to our competitive advantage.
We will have a brand promise Eat us Organically, Live Healthy Always. This is a promise to our consumers that if they eat our products, then they will have opted for a healthier diet and thus a healthy living. Our foods will be organic and thus fresh and healthy without too much processing or preserving.
Our company will be called Healthy Foods as it depicts what we sell. It is a clear title for what one should expect. The logo of our company will be of fresh farm produce. Those include pepper, tomatoes, potatoes, milk, meat and kale. It will be able to depict that it surely healthy foods rather than the processed ones. The brand personality will be hip and a bit of youthfulness in it. The youthfulness in the personality will be a reflection of the results of our food. It will depict that if you eat with us, the fresh farm products that have undergone minimum procession, then one will be able to maintain their youthful state of mind and even the body. If you adapt to eating that is healthy, you become and feel youthful.
The brand personality will also be cheerful and colorful so as to attract more potential customers. A cheerful personality is important as it makes consumers feel welcome and also feel like they are at home. Creation of that vibrancy would be another major competitive advantage over our competitors.
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Differentiation strategy in Competitive Advantage. (2020, Oct 22). Retrieved from https://speedypaper.com/essays/differentiation-strategy-in-competitive-advantage
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