Competitive advantage is a product or service that an organization\'s customers

Question

Competitive advantage is a product or service that an organization's customers place a greater value on than a similar offering from a competitor. Inventions like the iPod, iPhone, and Blu-ray player were considered, at the time, a change in their industries and created an advantage for that company.

Besides Apple, list and discuss 5 companies that have benefited from creating a competitive advantage. What was the product/service and discuss if the product or service is still relevanttoday? How did that creation impact its industry?

Explanation / Answer

Five companies are

Amazon gained competitive advantage through introducing the online platform for making products available on the Internet. It is relevant today also but not to that extent. The creation turned into a revolution with more and more companies thriving to get their products on this platform and even some companies having their own personal websites for display and selling of products and services.

Google achieved competitive advantage through becoming the largest search engine in the world of Internet. Products and services include searching anything that exists in the world be it in history or geography. It is still relevant as the search results have become more and more accurate and consistent with the searches people make on the internet. The industry impact was more and more companies partnered with Google to be displayed on internet when searched in a relevant category.

Facebook gained competitive advantage through innovation of socializing. Today social life doesn't mean how many people you meet when you go out or how many people know you as a person, it means how many people are friends with you, like you or follow you on Facebook. It is still relevant with new features introduced every now and then to hold the people in staying updated on Facebook. Its become a part of life for almost every person.

Proctor and Gamble has competitive advantage in the low cost of maintaining a sustained logistics and supply chain in the FMCG industry. It is still relevant because the company has established on a global network of supply chain. It has impacted the industry in knowing the alternatives for better movement of products through different distribution channels even international.

Toyota gained competitive advantage due to its low cost of production and quality improving techniques inculcated within the organization for production of different automobile models. It is still relevant as Toyota still maintains the quality of products it produces by reducing the number of defects in the production units. The quality improving techniques were not only accepted and used in the same industry but also in every business operation across different industries to improve on the quality.

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