What is competitive strategy?
Posted: Mon Apr 21, 2025 9:11 am
If you think of competitive advantage as a process of research and observation about how to improve your business, competitive strategy is the plan you actually use to get it.
Your competitive strategy can look however you want, but it is generally a long-term plan that shows you are “playing to win.”
To be truly effective, a competitive strategy guides your business model itself.
It allows you to make key decisions, such as:
The pricing strategy applied to your products or services
Your company's brand strategy and market positioning
The nature of your customer service and their overall experience
The marketing strategies and channels you will use to promote yourself
Potential partnerships with other brands
Of course, you can adapt your competitive strategy to suit your thailand email list business needs. But its role is to help you understand your main competitive advantages – and disadvantages.
This will give you more confidence in adopting a competitive strategy, while minimizing the need to go back or change your existing business identity or operations.
How to Create a Competitive Advantage and Why It Matters
The answer to this question could drag on for years. It’s like answering the question, “Why is it important to have a profitable business?”
When you follow this strategy, you are essentially working to set your business up for success.
Among the infinite advantages of competitive advantage in economics there are for example:
More Customers: A good competitive advantage makes your company more desirable than your competition. This means more customers will choose you over them. And who doesn’t want more customers?
More Loyalty: There are many ways to achieve customer loyalty , which is when a customer makes a long-term commitment to choosing your brand over the competition. If done well, your competitive strategy will help you build this loyalty.
Your competitive strategy can look however you want, but it is generally a long-term plan that shows you are “playing to win.”
To be truly effective, a competitive strategy guides your business model itself.
It allows you to make key decisions, such as:
The pricing strategy applied to your products or services
Your company's brand strategy and market positioning
The nature of your customer service and their overall experience
The marketing strategies and channels you will use to promote yourself
Potential partnerships with other brands
Of course, you can adapt your competitive strategy to suit your thailand email list business needs. But its role is to help you understand your main competitive advantages – and disadvantages.
This will give you more confidence in adopting a competitive strategy, while minimizing the need to go back or change your existing business identity or operations.
How to Create a Competitive Advantage and Why It Matters
The answer to this question could drag on for years. It’s like answering the question, “Why is it important to have a profitable business?”
When you follow this strategy, you are essentially working to set your business up for success.
Among the infinite advantages of competitive advantage in economics there are for example:
More Customers: A good competitive advantage makes your company more desirable than your competition. This means more customers will choose you over them. And who doesn’t want more customers?
More Loyalty: There are many ways to achieve customer loyalty , which is when a customer makes a long-term commitment to choosing your brand over the competition. If done well, your competitive strategy will help you build this loyalty.