Is Competitive Advantage Still Relevant Within Today’s Business Environment? The concept of competitive advantage has been a cornerstone of strategic planning. It refers to the unique attributes or capabilities that allow you to outperform your competitors. These attributes could include superior product quality and exceptional customer service. Innovative technology, or cost leadership. Whatever your potential customers see as the…

Mastering Competitive Benchmarking: A Comprehensive Guide For Success Here’s the comprehensive step-by-step guide for benchmarking competitors. You’re not likely to conduct a competitor benchmarking exercise this deeply. But it may give some guidance and food for thought. Its competitor insight unveiled. A Comprehensive Step-By-Step Guide For Benchmarking Competitors Incorporate some of these steps into your competitor benchmarking process. So you’ll better understand their strategies, capabilities…

In the realm of business, market leaders often enjoy a multitude of advantages. They command brand recognition and customer loyalty. And economies of scale and resources that set them apart from their competitors. Challenging these established giants might seem like an impossible task. Still, with strategic ingenuity and a willingness…

In warfare and business, no strategy survives first contact with the adversary. Your business strategy, like a military battlespace, must adapt to the realities of the marketplace. Business is often likened to war. It’s a continuous battle to conquer the market, win customers, and secure sales. Just as you aim…

Here’s a simple list if you wish to conduct a basic market share analysis. 1. Clearly define the market or industry segment you want to analyse. Create questions, then redefine questions again to cover the scope, geography, product etc. 2. Collect data on total market size and sales from industry…

Gaming-Changing Innovation: Strategies For Overcoming Market Leader Advantages Part 1 In the realm of business, market leaders often enjoy a multitude of advantages. They command brand recognition and customer loyalty. And economies of scale and resources that set them apart from their competitors. Challenging these established giants might seem like an impossible task. Still, with strategic ingenuity and a willingness…

Bad business strategy exhibits several common characteristics that can hinder a company’s growth and success. Here are some signs of a poor strategy: Lack of clear or undefined direction usually leads to confusion & poor decision-making. Ignoring market analysis encourages making important decisions based on assumptions & past experiences. Neglecting…

How To See Better With Strategic Intelligence And Over-The-Horizon Insights Businesses must recognise the need for strategic intelligence beyond simply analysing present events. There has to be an emphasis on over-the-horizon insights as organisations strive to gain a competitive edge. So they can anticipate emerging risks and seize untapped opportunities. This approach involves peering into the future. Harnessing innovative technologies…

Effective Competitor Benchmarking Determine what aspects you want to compare with your competitors: pricing, product features, marketing strategies, customer service, market share etc. Agree on relevant KPIs. Identify primary direct, indirect and pesky disruptor competitors. Don’t go for the obvious every time. Gather information from diverse sources. From websites, reports, social media, reviews…