Using MIS (10th Edition)
Using MIS (10th Edition)
10th Edition
ISBN: 9780134606996
Author: David M. Kroenke, Randall J. Boyle
Publisher: PEARSON
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Chapter 6, Problem 6.2UYK

Explanation of Solution

Eight principles of competitive advantage:

Eight principles of competitive advantage have been categorized into product implementations and process implementations.

Applications:

Product Implementations:

  • Create new products or services:
    • To offer new products or services to the customer, this is better than the competitor’s product.
  • Enhancing products or services:
    • Improving the currently offering products by implementing the upcoming ideas.
  • Differentiating products or services:
    • Making the products stand in the market by implementing upcoming ideas.

Process Implementations:

  • Lock in customers and buyers:
    • Holding the customers and buyers to buy their products by providing good customer service and fulfilling the wishes and needs of the customer
  • Lock in suppliers:
    • Holding the suppliers on their side makes them always available and ready to help.
  • Raising the barriers to market entry:
    • Making some barriers, this will create a difficulty in startup business...

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