It's important to take a broad approach when analyzing opportunities for competitive advantage. After watching this video, you will be able to map out the purchase and consumption cycle for one of your company's product lines.
- When analyzing their company's competitive advantage, … whether in terms of the current situation … or planning for the future, … managers often take a very narrow approach. … They implicitly assume that the potential customer … has already decided to make a purchase, … has identified alternative vendors, … and the only question left is which company's products … and services are better and or cheaper. … Contrast such an approach with that of Amazon, … the e-commerce giant. … Amazon keeps track of every customer's purchase history. … Through a data mining process … known as collaborative filtering, … Amazon is able to compare … a particular customer's purchase pattern … with that of other customers. … This enables the company … to make reasonably accurate predictions … about what other products, especially books, … may be of interest to the particular customer. … Amazon uses this conclusion to send out targeted emails … to each customer, recommending specific books … for purchase consideration. …
Skill Level Intermediate
Q: This course was updated on 08/19/2015. What changed?
A: Due to member demand, we've added three movies to take you even further into competitive strategy: Competing through disruption, Managing complementors, and Understanding industry dynamics