19 Aug eply to the students response iin 150 words and p
eply to the students response iin 150 words and provide 1reference
The strategy that I found the most compelling this week is the differentiation strategy. The differentiation strategy is defined as the business strategy that seeks to create a higher value for the customer than the value of the competitors (Rothaermel, 2017). We see this strategy used with most companies, especially big brand companies. After researching the differentiation strategy, I realized how common it is and that I just wasn’t aware of the name of the business strategy. Companies gain a competitive advantage by adding value to the price of a good or service using this business strategy. I recently bought furniture for my home and noticed during my shopping that not all furniture stores include shipping. Jerome’s was one store that I was browsing and they had a special where they offered free shipping with orders over a certain amount versus Living Spaces which is where I actually purchased furniture and also had to pay for shipping. To add value to the shipping cost, Living Spaces offered multiple deliveries at a one-time price. I feel this helped gain a competitive advantage over the others because even though I had to pay for shipping, I could place multiple orders during the time it took to ship my last piece and not have to pay an additional fee.
Rothaermel, F. Strategic Management: Concepts. [National University]. Retrieved from https://nu.vitalsource.com/#/books/1260420256/
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