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week 2 discussion starter

  • From Business, General Business
  • Due on 28 Jan, 2017 12:00:00
  • Asked On 26 Jan, 2017 03:34:03
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In your own words, post a reply (200 to 300 words) to the following questions:

 

Why is it important to have a unique competitive advantage? Is competitive advantage perceived or real? 


Southwest Airlines has remained profitable even during the economic downturn. Do they have a competitive advantage over the other airlines and if so, what is it?

What is a target market? How do you segment a market to identify a target market? What is the value of identifying the optimal target market for a product or service?

 

 

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[Solved] week 2 discussion starter

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  • Submitted On 26 Jan, 2017 07:19:21
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Why is it important to have a unique competitive advantage? Is competitive advantage perceived or real? Unique competitive advantage is important for a firm since it increases the firmâ...
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[Solved] WEEK 2 DISCUSSION STARTER

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  • Submitted On 26 Jan, 2017 08:08:07
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Student name Institution affiliation Course title Professor name Date   A competitive advantage is a condition that puts a company in a favorable business position such that for example it can produce goods at a lower cost or make more sales than its competitors. All business sales and marketing is based on how your product as a company is different and better than others. In order to survive in any business you have to offer a product or service that has some distinct competitive advantage over your competitors. Having a competitive advantage enables a firm to make more sales and make more returns for the firm and shareholders. It will also raise the demand of a company’s products over those of its competitors (Barney, 1991).it establishes a business network for the firm, provides the workers with more management skills, competency and innovation (Kay, 2004). Finally, it provides a good working condition for the employees as they get good salaries out of the profits made (Porter, 1991). Competitive advantage may be real or perceived. Real competitive advantage is based on cost and revenue estimates while perceived competitive advantage is not correlated with cost or revenue efficiency. Therefore a firm that has perceived competitive advantage may end up losing because it does not take into account the cost of production in terms of for example labor which is the most...
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[Solved] competitive advantage

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  • Submitted On 26 Jan, 2017 04:52:48
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