why the most successful and fastest growing companies

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That's that have implemented such a competitive strategy are giants like IKEA, Spotify, Amazon, and so on.

Let us emphasize that this type of strategy can be considered successfully implemented only under one condition - there is one leader on the market. Until a single enterprise takes the leading position, and the remaining companies do not choose other competitive strategies on the market, cost minimization will not be effective.

Dumping and the struggle for price leadership have a negative impact on the profits of all market participants.


Broad differentiation strategy - unique product
The product differentiation strategy is based on the company's desire to gain a bolivia phone number list competitive advantage by creating a unique, distinct product. Such products have their own distinctive characteristics that competitors do not have. These make them more preferable for a certain group of consumers.

In this case, the price is not so important. Customers are ready to buy such products at an inflated price, since they have a special consumer value. Let us emphasize that we are talking about broad product differentiation. This means that the company can focus on an entire market or even several related areas.

The uniqueness of the product appears due to:


However, not every distinctive characteristic leads to differentiation and does not guarantee a competitive advantage for the company. The fact is that customers in your niche may be satisfied with ordinary goods and services, and thus, differentiation at a higher price will not be necessary for them.