Creating Competitive Advantage

Creating Competitive AdvantageI just finished reading Creating Competitive Advantage by Jaynie L. Smith. What a great book to cause business leaders to think back to basics. It’s so simple: to be successful you need to be able to convince your market to do business with you instead of with your competitors. The key is to know what your competitive advantage is and then making sure your customers know what it is and build your strategy around it. Northeast Delta Dental’s competitive edge has been called the “Delta Difference” – a commitment to excellence and extraordinary customer service. Because we know that retaining our existing customers is less expensive than marketing to new customers, we work to build our success on their trust. Our customers value our stellar service and are willing to pay more for this most distinguishing attribute of our company. To remain competitive, one must constantly analyze one’s position to determine when new measures of success may emerge, always striving to know what it is that your customers want.

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2 Responses to Creating Competitive Advantage

  1. > To remain competitive, one must constantly analyze one’s
    > position to determine when new measures of success may
    > emerge, always striving to know what it is that your
    > customers want.

    I’m curious; how do you actually do the constant analysis, who takes part, and how often? You certainly aren’t thinking about this every minute of every day (well, perhaps you are 😉

    Specifically, what do you think about? Is the analysis a formalized part of your business process? Does it involve other senior leaders in the organization? How does it feed into the planning process?

    Questions, questions, questions. So much interesting stuff to learn!

    • tomraffio says:

      Hi Rich,

      I always say that the competition has the opportunity to leap frog the current industry best practice or benchmark, so we must always be striving to improve our best practices; and your point that new paradigms may emerge before we realize it, does require the constant vigilance to which you allude. Thanks Rich as always.

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