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Study of Competitive Positioning 1141 Essay Example

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Study of Competitive Positioning 1141

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This paper therefore discusses ways in which companies may use both theory and professional practice to gain competitive advantage by defining their competitive position.Kong (2008) noted that the competitive positioning of a company is about defining how to differentiate what the company offers with the aim of creating value for the market. To this end, it is important that a company can clearly know the things that set it apart from its competitors and emphasise on these to create value. Companies that identify their competitive positioning effectively have been noted to create a competitive advantage for themselves. This is because customers place emphasis on those the differentiations offered by the company to settle it over other competitors (Prahalad & Hamel, 1990). Having a competitive positioning can therefore be likened to winning the mindshare in the marketplace through the use of the things that differentiates a company from others (Taylor, 2014). For this to be done effectively, some of the areas of the market that may be focused include market profile, customer segments, competitive analysis, and method of delivering value (Aoki, 2006).There are a number of theories that have been used in conceptualising how and why competitive positioning works. One of these is Porter’s five forces of competitive position analysis. Below, why the Porter’s five forces framework works in theory for conceptualising competitive positioning, analysis of the five forces and advantages with using the forces are presented.In various academic journals, the validity of Porter’s five forces in conceptualising the competitive positioning of companies is presented. In the first place, Porter (1980) explained that the five forces makes it possible for companies to determine the competitive intensity of the market in which they operate. Meanwhile, without clearly knowing the level and extent of competition, it is virtually impossible for a company to determine how well it can position itself to be above its competitors (Porter, 1979). At the same time, it is only when a company competitively positions itself above its competitors that competitive advantage can be secured. Hamel (2006) also explained that the five forces works in theory because it helps companies to know the extent of their attractiveness in the

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preview essay on Study of Competitive Positioning 1141
  • Pages: 12 (3000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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