There are two phrases of competitive advantage. After watching this video, you will be able to examine the "onstage" and "offstage" competitive advantages or disadvantages for your company.
- Managers often have great difficulty … figuring out where to start when analyzing the nature … of their competitive advantage, or lack thereof, … relative to competitors. … In analyzing your competitive advantage … relative to one or more competitors, the key is to remember … that there are two phases of competitive advantage, … onstage and backstage. … Onstage competitive advantage or disadvantage … refers to the perceptions of target customers … about how your goods and services compare … with those of competitors … along the criteria that are important to them … in making their buying decisions. … In the case of Coke versus Pepsi, … customer buying criteria may include perceived taste, … brand image, ubiquitous availability, and price. … Onstage competitive analysis must always be … the starting point in figuring out … what competitive advantage you do or do not enjoy. … Customers' beliefs are far more important … than what you believe. … You may think that you are an innovative company, …
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