How to create a distinctive competitive advantage and let the business embody this strategy? Below are 5 principles to consider when developing such a strategy to create an advantage for the business and enhance competitiveness in the market.
Assess the level of differentiation of the business in the past. Has your business ever undertaken any differentiated initiatives? If so, how?
Awareness of distinction. How do business leaders perceive differentiation strategy? Differentiation here means that your business is a business with unique products/services that other businesses do not have and cannot copy.
Leadership ability. Do business leaders play a decisive role in the differentiation strategy? Is it considered a corporate strategy that requires implementation or is it considered a marketing initiative?
Are business leaders able to assess the criteria that define the fundamentals of differentiation strategy, such as customer value, trust, attractiveness, sustainability, narrow focus, and anti-copying measures?
Attitude towards differentiation strategy. Do many business professionals scoff at the feasibility of differentiation strategies and claim that they are unachievable? If so, it may be a sign that they do not understand the elements and foundations of differentiation strategies. Another question is, are business leaders convinced that the differentiation strategy they intend to pursue is realistic?
The role of supporters and influencers in differentiation strategy. Are there leaders in your organization whose marketing voice is respected by their peers? It could be someone who has taken an initiative for the organization and succeeded.
In short, awareness of differentiation, leadership ability and attitude towards differentiation strategy are factors that allow to assess the level of readiness and determination of the enterprise to implement this strategy. With your determination and the support of those who advocate implementing this type of strategy, you can absolutely implement this strategy and have enough strength to create a solid competitive advantage for the enterprise in the market.
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