Ch 1: Elements of Competitive Advantage

About This Chapter

Successful organizations often need a competitive advantage. The lessons in this chapter can help your employees learn to identify possible strategic advantages and how to cultivate those possibilities into sustainable realities.

Elements of Competitive Advantage - Chapter Summary

Information from this chapter offers insight concerning strategies for building and maintaining competitive advantages in business. Employees who complete these lessons will increase their knowledge on the following topics:

  • Different kinds of competitive advantages
  • Strategic marketing options
  • Steps for attaining competitive advantages
  • Maintaining a competitive position in the market

We have broken up this chapter into several brief lessons, giving your employees more time to investigate different types of competitive advantages. From their studies of our materials, they can determine which type of advantage may be best suited for your organization. You can evaluate whether your employees have gained a deeper comprehension of strategic marketing maneuvers by having them answer questions on the included quizzes or chapter exam.

How It Helps

  • Increases market trend awareness: Learning how to analyze the advantages of your competitors and your own organization also teaches managers about noticing changes in market trends.
  • Enhances internal analysis skills: You can't compare your organization against your competitors unless you improve your ability to examine the internal strengths and shortcomings of your own strategic marketing platform first.
  • Emphasizes better decision-making practices: Your managers can learn about a number of strategic marketing alternatives, but that information is meaningless unless they know how to choose which one will best increase the bottom line for your specific business.

Skills Covered

At the close of this chapter, employees will possess the skills to:

  • Spot unique traits of an organization that make it more prosperous in the market
  • Design strategic marketing plans to create or improve a company's competitive advantage
  • Increase the longevity of a competitive advantage through developing a maintenance strategy
  • Describe the benefits and disadvantages to different strategic marketing plans

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the Strategies for Competitive Advantage course