A factor, such as the ability to demonstrate quality, that helps a managed care organization compete successfully with other managed care organizations for business
Occurs when one company can make more profits selling its products or services than its competitors It occurs because a company can charge a premium because their product or service is more valuable, or because they can sell their product for less than their competitors because they are a more efficient producer Rational strategists always seek to establish a long term competitive advantage for their company Many managers associate competitive advantage with the description provided in Michael Porter's Competitive Advantage (1985)
In order to survive or expand, organisations must seek to gain dominance over their competitors in the marketplace This can be achieved by using a variety of strategies to gain control of a market or prevent others from gaining control
The competitive advantage is a set of factors that rank the company in a more favourable market position than its competitors It arises from individualising unique opportunities Common goods Common goods are goods that are frequently purchased and to which the consumer allocates a limited amount of resources The cost of these goods is low and the selection times are reduced because their features are well known The need for further information is thus seldom required
Related to products, an advantage over competitor products, achieved through functional benefit or end-user emotional benefit See: Sundberg-Ferar Mission Statement, Attractive, Cost-Effective, Innovative
an advantage a business has over its competitors because of the quality or superiority of products or services which will persuade customers to buy from them rather than from competitors
The strategic development where customers will choose a firm's product or service over its competitors based on significantly more favorable perceptions or offerings
a term popularized by Michael Porter of Harvard Business School and author of the business classic "Competitive Strategy", it is the unique blend of activities, assets, relationships, history, and market conditions that an organization exploits in order to differentiate itself from its competitors, and thus create value View records related to this term
The significant advantages that an organisation has over competitors Such advantages allow the organisation to add more value than its competitors in the same market