Competitive advantages of the company
Posted: Mon Jan 20, 2025 5:03 am
Competitive advantages in marketing are usually called the features of a brand or branded product (service), thanks to which the company stands out from other players. It is on these advantages that a long-term strategy for business development and advertising materials should be based. At the same time, the highlighted characteristics should be inherent only to your company. Otherwise, you will only repeat the actions of competitors, which will entail a deterioration in market positions and a decrease in key KPIs.
It is important to take into account that the analysis and creation of competitive advantages is a vital process that must be carried out continuously. The fact is that new companies are constantly entering the market, making unique offers to consumers. Therefore, if you once identify advantages and stop doing this, then after a while your company will begin to lose its positions, regardless of how high-quality the goods you sell are.
Competitive advantages include not paytm database only the strengths of the product itself, but also service, post-warranty service, a system of discounts, and much more.
Competitive advantages of the company
By highlighting the unique features of your company, you can differentiate yourself from your competitors, that is, offer consumers a different value.
There are two types of advantages in competitive marketing:
Natural. They are valued the most. Such advantages bring the greatest benefit to consumers.
Artificial. They are formed by creative people. Their main purpose is to enhance natural advantages.
Many companies believe that it is extremely difficult to stand out from competitors, especially if the company sells similar products. However, this is a big mistake, since it is possible to differentiate yourself from business rivals in any niche.
Every company has natural advantages. They just need to be found and emphasized. Let's look at a few examples:
Advantage Description
Price Used in the market of typical goods and services that are difficult to improve or supplement with something unique (for example, lumber). In this case, competent positioning is necessary. Not "the lowest prices", but "prices 20% lower". People respond better to specifics.
Deadlines We are talking about the time it takes to deliver the goods or fulfill the order. For example, other companies deliver the goods in a week, but you can reduce the time to 3-4 days. However, you should not use general phrases like "the fastest delivery".
Experience Certificates, licenses and other supporting documents that demonstrate your competence. This will help increase customer confidence.
Special conditions Any features that other companies do not have (warehouse within the city, several points of sale, payment delay for N days, discount for experience, etc.).
Authority Participation in industry conferences (as speakers) or cooperation with large/government agencies. This information will increase your status.
Narrow specialization Information that you work in only one direction (for example, dismantling plastic windows). The narrower the specialization, the higher the expertise in the chosen field (in the eyes of consumers).
Other actual benefits For example, a wide range of products, unique production technology, additional bonuses, etc.
If a company does not have enough natural competitive advantages, creative people can create artificial ones. This category includes:
Advantage Description
Added value Creating additional benefits for customers. For example, your company sells lumber. This is a standard product that is difficult to "differentiate" from competitors' offers. However, you can create additional value by adding a wood treatment product for every 7 cubic meters of product.
Personal adjustment Using the personality of a director, chief engineer or other specialist to advertise a brand. Consumers like to watch people, not impersonal companies.
Guarantees Offer to reimburse the client's expenses if he/she does not like the product or service. For example: "We will refund the money spent on setting up the advertising campaign if the leads cost more than 100 rubles."
Reviews We are talking about reviews from current or old clients. We do not recommend buying such comments. People will easily identify such fraud and will treat the brand less loyally. The best option is reviews from large contractors on company letterhead. They can be placed on the website and added to commercial materials (for example, to a presentation).
Demonstration You need to show off your products or services. This can be done either by providing an all-round product report that highlights all the features, or by offering the service for free. In doing so, you need to highlight your unique features in a smart way. For example, if you use a quality assurance system, be sure to tell your customers about it.
Cases Indication of real results of product use. In the case of services, the effect is higher. For example, contextual advertising specialists demonstrate reports on the advertising campaign and talk about the benefits that clients received. Thus, consumers will know what benefit your company will bring to them.
The company must constantly monitor its competitive advantages. Otherwise, the demand for its products will decrease. Any business needs to develop new USPs and emphasize its strengths.
Recommended articles on this topic:
Company Marketing Plan: Short and Detailed Versions
Marketing Department KPI: 11 indicators and calculation example
Marketing Tips: How to Show That Your Product is the Best
It is important to take into account that the analysis and creation of competitive advantages is a vital process that must be carried out continuously. The fact is that new companies are constantly entering the market, making unique offers to consumers. Therefore, if you once identify advantages and stop doing this, then after a while your company will begin to lose its positions, regardless of how high-quality the goods you sell are.
Competitive advantages include not paytm database only the strengths of the product itself, but also service, post-warranty service, a system of discounts, and much more.
Competitive advantages of the company
By highlighting the unique features of your company, you can differentiate yourself from your competitors, that is, offer consumers a different value.
There are two types of advantages in competitive marketing:
Natural. They are valued the most. Such advantages bring the greatest benefit to consumers.
Artificial. They are formed by creative people. Their main purpose is to enhance natural advantages.
Many companies believe that it is extremely difficult to stand out from competitors, especially if the company sells similar products. However, this is a big mistake, since it is possible to differentiate yourself from business rivals in any niche.
Every company has natural advantages. They just need to be found and emphasized. Let's look at a few examples:
Advantage Description
Price Used in the market of typical goods and services that are difficult to improve or supplement with something unique (for example, lumber). In this case, competent positioning is necessary. Not "the lowest prices", but "prices 20% lower". People respond better to specifics.
Deadlines We are talking about the time it takes to deliver the goods or fulfill the order. For example, other companies deliver the goods in a week, but you can reduce the time to 3-4 days. However, you should not use general phrases like "the fastest delivery".
Experience Certificates, licenses and other supporting documents that demonstrate your competence. This will help increase customer confidence.
Special conditions Any features that other companies do not have (warehouse within the city, several points of sale, payment delay for N days, discount for experience, etc.).
Authority Participation in industry conferences (as speakers) or cooperation with large/government agencies. This information will increase your status.
Narrow specialization Information that you work in only one direction (for example, dismantling plastic windows). The narrower the specialization, the higher the expertise in the chosen field (in the eyes of consumers).
Other actual benefits For example, a wide range of products, unique production technology, additional bonuses, etc.
If a company does not have enough natural competitive advantages, creative people can create artificial ones. This category includes:
Advantage Description
Added value Creating additional benefits for customers. For example, your company sells lumber. This is a standard product that is difficult to "differentiate" from competitors' offers. However, you can create additional value by adding a wood treatment product for every 7 cubic meters of product.
Personal adjustment Using the personality of a director, chief engineer or other specialist to advertise a brand. Consumers like to watch people, not impersonal companies.
Guarantees Offer to reimburse the client's expenses if he/she does not like the product or service. For example: "We will refund the money spent on setting up the advertising campaign if the leads cost more than 100 rubles."
Reviews We are talking about reviews from current or old clients. We do not recommend buying such comments. People will easily identify such fraud and will treat the brand less loyally. The best option is reviews from large contractors on company letterhead. They can be placed on the website and added to commercial materials (for example, to a presentation).
Demonstration You need to show off your products or services. This can be done either by providing an all-round product report that highlights all the features, or by offering the service for free. In doing so, you need to highlight your unique features in a smart way. For example, if you use a quality assurance system, be sure to tell your customers about it.
Cases Indication of real results of product use. In the case of services, the effect is higher. For example, contextual advertising specialists demonstrate reports on the advertising campaign and talk about the benefits that clients received. Thus, consumers will know what benefit your company will bring to them.
The company must constantly monitor its competitive advantages. Otherwise, the demand for its products will decrease. Any business needs to develop new USPs and emphasize its strengths.
Recommended articles on this topic:
Company Marketing Plan: Short and Detailed Versions
Marketing Department KPI: 11 indicators and calculation example
Marketing Tips: How to Show That Your Product is the Best