When it comes to competitive advantage, the premise upon which this corporate strategy is based is to create a sustainable competitive advantage over so many other competing products and companies in the market place.
This is a win win situation for customers as firstly, companies rarely enjoy a monopoly in the market these days. And those that still do, is only for a short period of time before other competitors spring up.
Secondly, it certainly affords customers the opportunity to choose which company to patronise and buy from. Nowadays, there is no such thing called brand loyalty, more so if a customer can source for a better and highly effective product elsewhere.
Thirdly, it also gives customers the opportunity to choose products based on low cost, quality and benefits.
Or, higher costs and services (before and after sales) that makes the product price, benefits and product quality, a justifiable and affordable one.
So then, it appears that the era of competitive advantage is over. Customers are much wiser and they shop with intelligence these days.
It follows therefore, that companies that still use sustainable competitive advantage as a strategy, will find that they will now struggle compared to other companies who are quick to evolve and adapt to the changing demands of customers.
Evidently, this was the undoing of Nokia when they were bought over by Microsoft. Simply put, Nokia became too complacent with their corporate strategy. They failed to adapt to the changing needs of the market and move along the same pace as their competitors.
As long as the customer remains king in the market place, companies need to constantly rework their corporate strategy and remain at the top of their game, or fierce competitors will overtake them and run them out of business.
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