Video: Competitiveness is good?
2024 Author: Henry Conors | [email protected]. Last modified: 2024-02-12 02:48
We all constantly hear about the competitiveness of products, companies, etc., but not everyone can understand what it is about. A huge number of technical terms penetrate into everyday life, and this is just the case. What is competitiveness anyway? This is a property of an object that shows how it can satisfy needs compared to similar ones. For example, you can consider this term on the example of two brands of washing powders. Product A is cheaper, lower quality, does not wash the fabric well and is not completely washed out of it. Powder B cleans better, rinses out well, and costs the same. It is obvious that the brand B product is more competitive. Although the reality may be somewhat different.
This is a very simple example, in fact, assessing competitiveness is quite a difficult task. A large number of factors affecting the popularity of a particular product or company are taken into account. And although the analysis ultimately boils down to assessing the price-quality ratio, in the case of a product, correctly assessing the competitiveness is not so simple.
What is it forneed? In order to understand whether this or that product will fail in the market, whether the company will burn out, or it will succeed. Of course, no one can say for sure, and yet this often helps to avoid unpleasant surprises. Be that as it may, the buyer - and he is the chief judge and appraiser - must be satisfied with the product and service, otherwise they may disappear from the market. That is why every manufacturer constantly thinks about how to outperform its rivals, and invents new methods of competitiveness and its increase. That is why every large company has a marketing department that does this.
The term "sustainable competitive advantage" (SCE) is often used among marketers and economists. It denotes a unique feature of a particular product, which can help in its implementation and promotion in the consumer environment. A unique taste, smell or color, chemical or physical properties, exclusivity, free maintenance, nice little things like a toy inside a box of breakfast cereal, anything! When advertising a product, manufacturers are usually very persistent in mentioning one or another feature of this product - this is the very UKP.
Managing competitiveness is also not an easy task. There are many different factors to consider and
find the right combination of them, the formula that will help the product stay on the market and gain popularity. You can gosimple ways - to increase quality and lower the price, or you can turn to non-standard approaches, for example, introduce a lifetime warranty.
What is competitiveness? This is not such a simple question. Sometimes consumers, for non-obvious reasons, choose a lower quality product for a higher price. Packaging, advertising, placement, availability of components, advice from acquaintances - marketers, in addition to economics, also have to study the psychology of buyers, as well as brand positioning in the market. Competitiveness is a mixture of many, many components that, when combined correctly, lead to success, and if not combined, at worst, to collapse.
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