Competitive Strategy: is a clear statement of why customers should choose a company’s products or services over those of competing companies.
The example I would like to use today is Target vs. Wal-Mart. Wal-mart is always known as the big store that has low prices, and you can find just about everything. However, in this battle I decide to stay with Target. Over the past several years, I feel like Target has really upped their qualities. I find shopping at Target with so much more ease. Everything is nicely organized and put together. Yes, their prices tend to be a bit higher than Wal-Mart. Except, I know there is nothing bad going on at corporate. Target is never in midst of scandals about treating their employees badly, unlike Wal-Mart. I can actually tell people “Hey I got this sweater from Target!” Target offers affordable and cute clothing that isn’t made out of poor quality. I very much am a Target shopper vs. Wal-Mart, Wal-Mart may be able to offer lower prices, but the overall quality of shopping experiences, Target overrules everything.
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I couldn't agree with you more. I agree that when we discuss a concept like "competitive strategy", the name Wal-Mart comes into mind. I also agree that Target offers a much better shopping experience, even though their prices might not always be as low as Wal-Mart. It's not always about the money but often about the experience as well.
ReplyDeleteIn one of my classes, we were discussing Nordstroms vs Macys and although Macys is usually cheaper, Nordstroms is known for its excellent customer service skills and shopping experience and that's what it's competitive strategy is all about.
Great post! Have a good last week of summer class. Then really enjoy your summer:)