What are the two competitive strategies of position of customer benefits/competitive strategies?
1. Cost leadership: low prices/cost (ex: ryanair, walmart)
2. Differentiation: What your company has that others do not. Based on Superior products or CRM (customer relationship management) ex: Apple
What are two ways in which a competitive advantage can accrue?
1. They can be perceived by customers
2. Sustainable over time (Do not have the potential to be easily imitated by competitors)