Course: SLF 130 Marketing Practices for the Small Business

Unit 2 Reading

SubTabs

- Unit 2
- Table of Contents (Selected)
- Unit 2 Glossary (Selected)

Competitive Advantage Page_1

Reading adapted from Marketing: Boundless Marketing Open Textbook, Creative Commons Attribution-ShareAlike 3.0 Unported License
www.boundless.com/marketing, CC BY-SA 2.0

Developing a Competitive Advantage
through the 4 Ps of Marketing
COMPETITIVE ADVANTAGE
A competitive advantage is what one business entity has over its rivals within its competitive industry.

Sustainable competitive advantages are advantages that are not easily copied and, thus, can be maintained over a long period of time.  The competition must not be able to provide the same offering right away or it is not sustainable.
Developing a sustainable, competitive advantage requires customer loyalty, a great location, unique product offerings, proper distribution channels, good vendor relations, and a reputation for customer service.

Customers are fickle and they will always ask “What have you done for me lately?” Marketers have to constantly live up to customer expectations, and over time, have to step up the game and continue to IMPRESS their customers with their competitive advantage.
Bring the best of your authentic self to every opportunity.
~John Jantsch Author of Duct Tape Marketing