asSalamualaikum...

hye guys..meet again in new entry k. for this time i want to share with u all what i was learn and understand from the second chapter in this subject k. for the the second chapter we learn about IDENTIFYING COMPETITIVE ADVANTAGES...competitive advantages????what that's????

ok i will try my best to explain what means that :

1. competitive advantages means a products / services.

      example of services 

example of product

That an organization's customers place a greater value on than similar offerings from a competitor.

 2. first-mover advantages means occurs when an organization can   significantly impact is    market share by      being first to market with a competitive advantages.

Beside that,organization's watch their competition through environmental scanning. 

environmental scanning means the acquisition and analysis of event and trends in the environment external to an organization.

To analyze and develop competitive advantages :  3 common tools used in industry.

1. Porter's five forces model determines the relative attractiveness of an industry.

  2.  Buyer power assessed by analyzing the ability of buyers to directly impact to the price they ae willing to pay.

ways to reduce buyer power include :

• switching costs
• loyalty program

 3. supplier power  assessed by the suppliers ability to directly impact the price they are charging for suplies (including materials,labor, and services)

  supply chain - SUPPLIERS ------- OGANIZATION ------ CUSTOMERS

THREAT was divide into two :

  

   > threat of new entrants   > threat among existing competitors

RIVALRY AMONG EXISTING COMPETITORS 

high when competition is fierce in a market and low when competition is more complacent.

Product differentiation - occurs when company develops unique differences in its products.