What is the way to build the competitive advantage of enterprises? Massive open online course

1. Develop cost-based advantages. Having lower cost than competitors can make enterprises gain a sustainable competitive advantage, because lower cost can often help enterprises have more room for price reduction or more profit space than competitors.

2. Create advantages based on differentiation. Enterprises pursuing differentiation strategy must constantly seek innovation, make unremitting efforts to increase brand reputation or create services with higher added value, so as to resist competitors' attempts to imitate the characteristics of their successful differentiated products.

3. Focus on the niche market of industry segmentation. The special needs and hobbies of customer groups, rather than meeting the needs of all customers to seek competitive advantage.

4. Develop the incomparable resource advantages and competitiveness of competitors. Generally speaking, the sustainable competitive advantage of enterprises relative to competitors is based on valuable resource advantages and capabilities, not on individual unique commodities. Smart competitors may imitate some characteristics of popular products, but it is difficult to have the experience, production know-how and unique resources of product development and improvement accumulated by the original product producers in the long-term development.