Selecting Competitive Advantages in a Company | Kotler Chapter 7

Name: Selecting Competitive Advantages in a Company | Kotler Chapter 7
Uploaded: 2023-06-17 04:58:58
Description: Selecting and promoting only one competitive advantage for a product or service is crucial for achieving a strong brand positioning and competitive advantage in the market.

This article is a summary of a YouTube video "KOTLER CAPÍTULO 7 😊 (7.7) | La Selección de VENTAJAS COMPETITIVAS en un EMPRESA" by ANUOR AGUILAR

TLDR Selecting and promoting only one competitive advantage for a product or service is crucial for achieving a strong brand positioning and competitive advantage in the market.

Key insights

🎯

The key to achieving a competitive advantage in the market is to identify and promote a single advantage that resonates with the target audience and differentiates the brand from its competitors.
📣

Effective communication is an essential aspect of a competitive advantage, allowing the message to be easily understood and remembered.
💡

A characteristic that is exclusive and affordable is essential for a differential advantage, as it sets the company apart from competitors and ensures that consumers can actually purchase it.
💎

Differentiating a brand by offering more for the same price can also be an effective strategy.
🆓

Providing valuable content for free can be a successful strategy, as demonstrated by the speaker offering courses that were previously paid for in universities for free on their YouTube channel.
🏨

Despite offering less in terms of room size and breakfast options, boiling b provides a cost-effective option for travelers looking to save money on accommodations.

Timestamped Summary

😊

00:00
The speaker discusses the importance of selecting and promoting only one competitive advantage for a product or service, using the example of Walmart.
😊

01:43
Low prices, quality, and good service should be promoted one at a time to achieve a strong brand positioning and competitive advantage in the market.
😊

02:59
The selection of competitive advantages in a company involves choosing characteristics that offer valuable benefits, are distinctive from competitors, superior in quality, and easily communicable.
😊

04:17
To select a competitive advantage, it should be understandable, exclusive, affordable, and profitable, and a positioning strategy should offer more for more.
📚

05:30
Differentiation in a market can be achieved by offering more for a higher price, more for the same price, or the same for less, with the example of Rolex being used to illustrate the concept.
😊

07:22
It is possible to offer more for less through technology, such as providing free courses online, and there is also a group of people willing to pay less for less.
😊

08:36
Boiling b is a cheaper alternative to hotels, offering smaller rooms and a light breakfast, but at a significantly lower cost.
👉

09:13
The speaker provides two options for viewers to continue learning about marketing: either go to the next section in the book or watch another video in the world of marketing innovation and entrepreneurship.