Disha Kohli Assignment 02 PDF

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DI SHAKOHLI MGMTI SEM 51050 I D279361 Dat e:01/ 26/ 2020 Chapt er3Quest i ons: Q1.Defineval uecr eat i onf orcust omer sandt hecomponent st hatcanbeusedt odet er mi neval ue cr eat i onperuni t .How val uecr eat i oni sr el at edt ocompet i t i veadvant age? Whenacust omerbuysapr oduct ,i tcr eat esav al uef ort hatpr oductt hi sc anbet er medasVal ueCr eat i on. Thecomponent st hatcanbeusedt odet er mi nev al uec r eat i onaspert heuni tcoul dbet hepr oduct ’ s desi gnandper f or manceorqual i t y ,ort hes er v i cepr ov i dedaf t er s al esorev ent hecust omer sort he pr oduc ti t s el f .Ast hefir m gr owsi nt hemar k et pl ace,i tbecomesel i gi bl ef ormor eopt i onsi nt er msofpr i ce whi chcanl eadt oi ncr ementi nt hepr oduc tv al ue.TheVal ueCr eat i oni sdi r ect l yr el at edt ot hecompet i t i v e adv ant agebecausev al uecr eat i oncanbet er medast hedi ffer encebet weent hecos ti nv ol v edi n manuf ac t ur i ngt hepr oductv er sust hev al uet hatt hec us t omercangetf r om t hefi r mf ort hepr oduct . Q2.Whati saval uechai n?Whyi seffici encysoi mpor t anti nanor gani zat i ons'val uechai n act i vi t i es? Ev er yfir m oror gani z at i oncons i st sofdi ffer entdepar t ment sl i k eDesi gn,Resear c h&Dev el opment , I nf or mat i onTec hnol ogy ,HumanResour ces ,Suppl yChai n,I nv ent or yandsoon,andt heconc eptoft he s equenceofal l t hes eact i vi t i est oget heri nacompanyi st er medasVal ueChai nasi tc anal sot r ans f or m i deasi nt oout put st hati nc l udebot ht hepr i mar yands uppor tact i v i t i es .Effic i enc yi si mpor t anti nan or gani z at i onsVal ueChai n,becausei ti sav al uabl econcept ,att het i meofani nt er nalanal ys i si tcanhel p t hemanager soft hefi r mt of ol l owandunder s t andal lt hedi ffer entact i vi t i est hatar ei nv ol v edi nt hev al uec hai n,Al s o,hel pst hem t ounder s t andt her esul ti nt hecr eat i onoft hemos tv al uebyi dent i f yi ngwhat act i v i t yc ani mpr ov i set hec ompanyandwhatcanbei mpr ov edf ort hebet t er mentoft hec ompany .I n s hor t ,t heanal ys i sofVal ueChai nhel pst hemanager soft hecompanyt oi dent i f yt hefir m’ sSt r engt hsand Weaknes ses,wher easThr eat s,andOppor t uni t i esar et er medast heext er i orf act or s . Resear chandDevel opment :Resear c handDev el opment ,Desi gnandI mpl ement at i on,Suppl y Chai n Management ,Mar k et i ngandSal esandCus t omerSuppor tSer vi cesar ei ncl udedi nt hepr i mar yact i vi t i es oft heVal ueChai n.Resear c handDev el opmentdon’ tj us tr ef ert oi mpr ov i ngt hec omponent sand el ement sofapr oduct ,i tal s or ef er st ot heconfigur at i onoft hatpr oductwhi c hc anr es ul ti nani mpactof maj orqual i t yi nt hes hopper ’ sbr ai n. Desi gnDevel opmentandManuf act ur e:Ont heot herhand,t hedev el opmentoft hepr oductr ef er st ot he manuf ac t ur i ngdepar t ment .Theact i vi t i esper f or medi nt hemanuf act ur i ngdepar t mentl eadst oast eady pr oduc twi t hl owcostandmor epr ofit . Sal esandMar ket i ng:Ther emanyway st opr omot et hesal esandmar k et i ngoft hepr oductby s howcasi ngbet t erdeal st ogener at ev al ue.Thepr oductcanbepr omot edv i aadv er t i si ngandbyt he pr omot i onoft hebr ands .

Cust omerSer vi ce:Thes er vi cest hatar epr ov i dedt ot hecust omer scanber ef er r edt oascus t omer s er v i ce,es pec i al l yt hes er vi cesaf t ert hes al eoft hefi r m’ spr oduc t . Q3.Whatbui l di ngbl ocksi nval uecr eat i oncananor gani zat i onuset osust ai ncompet i t i ve advant age?How bestyoucansust ai ncompet i t i veadvant age? Thebui l di ngbl ockst hatanor gani z at i oncoul duset osust ai nc ompet i t i v eadv ant agear e-Super i or Effic i enc y ,Qual i t y ,I nnov at i on,andCust omerSat i sf act i on.Thes ef ourbui l di ngbl ock scanhel pt he or gani z at i ont omai nt ai ni t sbenefit sandgai nsagai ns ti t sr i v al s .Theor gani z at i onc ancat egor i z ei t s pr oduc t sbyappr ai si ngt hesef act or si nt hemar k etandcanr esul ti noffer i ngt hebes tc us t omerv al ueby decr easi ngt heov er al lc os t . Super i orEffici ency:Whent hefi r m’ si nput sar et r ans f or medi nt oout put st hatcanbet er medasa busi ness .I nput sc ani ncl udev ar i oust ypessuchasr eal es t at e,t echnol ogy ,l abor ,c api t al ,and management .Al lt hes et ypesofi nput sc anbet r ansf or medi nt oout put st hatar et er medaspr oduc t sand s er v i cesmeantt odr i v et hefir m’ sbusi ness .Thei nput st hatt hec ompanyut i l i z est opr oduceapr oductor r esul t s/ out putcanbev al uabl eandus ef ul t omeas ur eeffic i enc y .Whenanor gani zat i oni seffic i entenough t ouseasmal l ernumberofi nput st opr oducei t spr oductorout put s ,i tcanmak emor epr ofitbys el l i ngt he s amequal i t yofpr oduct satc heaperpr i c escompar edt oi t sr i v al si nt hemar k et pl ace. Qual i t y:" n"numberoft hi ngscancont r i but et ot hedev el opmentori nnov at i onoft hepr oductqual i t y . Qual i t yi nnov at i oni ncl udesi t sdesi gn,f eat ur es ,andr el i abi l i t y .Whenanycus t omerbuy sapr oductand s t at est hatt hef eat ur esav ai l abl ei naspeci fi cfir m’ spr oductar ewaymor ebet t ert hant heot herav ai l abl e pr oduct si nt hemar k et pl ac e,t hi sc anbet er medasSuper i orQual i t ypr oductandcanhol dt hemar k et pl acef orl ongt er m. I nnovat i on:Theabi l i t yt odev el opnewpr oduct sors er v i cesi st er medasI nnov at i on.I nnov at i oncanbe ei t herbr i ngi ngi nnov at i oni npr oduc t s / s er v i c esori nnov at i ngani deaorapr ocess . Cust omerSat i sf act i on:Cus t omersat i sf act i oncanbeeas i l yac hi ev edbypr oduc i ngagoodqual i t y pr oductandbydoi ngas uper i orj obbyf ul fil l i ngt hecust omer s ’demandsandmaki ngt hem happi er compar edt ot her i v al ’ spr oduct .Cus t omi z at i onoft hes er v i ces / pr oduc t spr oducedcanbet er medasone oft hemosti mpor t antf act or si nt er msofc us t omersat i sf act i onasi tcanf ul fi l l t heneedsoft hei ndi v i dual c us t omer sorev ent hemar k etgr oup. Whenal lt hef ourbl oc ksar emanagedeffici ent l yt hent hefir m cans us t ai nt hecompet i t i v eadv ant agei n t hemar k et pl ac e. Q4.Whatdoesi nt er nalanal ysi shel pacompanyt odet er mi ne?How doest hi spr ocesscont r i but e t ot heover al lheal t h( val uecr eat i on,compet i t i veadvant age,pr ofit abi l i t y)ofacompany? I nt er nal Anal ys i scoul dhel pt hecompanyt odet er mi nei t sst r engt hsandweak ness ,whi l ei t st hr eat sand oppor t uni t i esar emappedt ot heex t er nalf act or soft hecompany .I nt er nal Anal y si scanhel pt he or gani z at i ont ounder s t andt heov er vi ewofhowdeci s i onscanbemadet oi mpr ovi sei t sbusi ness s t r at egi es .I nt er nal Anal ys i scanal s odi r ec t l yhel pt heor gani z at i ont oconquert hecompet i t i v eadv ant age. Thepr ocesst hatenabl est hefir mt ogai nmor eandmor epr ofi t sandhel psac hi ev et hev al uet hatc r eat es bet t eropt i onsf ort hec ust omer ss houl dbet hemai nf ocusar eaf ort hemanager s .Al lt heor gani z at i ons needt ounder s t andt hev al ueofI nnov at i on,Qual i t yandCus t omerSer v i cet hathel psi npr oduci ngpr ofit

andv al uef orcust omer ’ ssat i sf act i on.I tal sohel psi ncont r i but i ngt ot heov er al l heal t h-v al uecr eat i on, compet i t i v eadv ant ageandpr ofit abi l i t yofacompanybyhel pi ngt hemanager soft hefir m’ st obe r espons i bl ef ort heper f or manceoft hei nt er nal t ohel pt hem under s t andt hefinanc i al per f or manceoft hei r fi r m,ack nowl edgi nghowt hebusi nessst r at egi escancont r i but et obenefi t .Anal y s i soft hefi r m’ s per f or manceshoul dbedoneeffect i v el ywhencompar edt ot her i v al sandal i gnedwi t ht hei rpas t per f or mancet or ecogni z et hefir m’ ss t r engt hsandweak nes s .Thi sc ani nawayal s ohel pt hemanager st o i dent i f yt hatt heanal ys i swoul dbepr ofit abl eornotandi t sex ecut i onwi l lbeenhanc i ngf ort hefi r m orwi l l l edt hefir mf al l apar twi t ht i meorwhet hert hepr ocedur esoft hefir m ar eenhanci ngt hev al uebei ngmade andwhet hert heass et sar eut i l i z edornott ot hebes tofi t si mpact . Q5.Whydocompani esf ai l ?How doescompet i t i veadvant ager el at et of ai l ur e?I fcompet i t i ve advant agei snotmai nt ai ned,whatwoul dbet heconsequencef oracompany? Compani esf ai li nt hemar k et pl acewhent heyar enotabl et ohol dupwi t ht hegr owi ngcompet i t i onamong t her i v alfi r msandt hi sr es ul t si nt hecompar at i v el yv er yl owadv ancementoft hefir m.Anyfi r m maynotf ai l wheni t seconomyi sr educ i ngorwheni t spr ofiti sr educi ng,i tmi ghtf ai li ft hi sphasecont i nuesf orl ong t i me.Whent hepr ofitandeconomyofanyfi r mf al l sbel owt heav er agepoi ntcompar edt oi t sr i v al s ,t heni t becomesat hr eatt ot hefi r mt hatt hi smi ghtr es ul ti nt hefir m’ sf ai l ur ei nt hemar k et pl ace,andt hi st henf ai l s t oat t r actt hefir m’ si nv est or ss i nc et heys t ar tt or es t r ai nf r om i nv est i ngmoneyi nacapi t al t hatr adi cal l y r educi ng. Fewr easonst hatcanl eadt ot hef ai l ur eoft hefir m1.PoorPl anni ngandLackOfResour ces-Lackofappr opr i at epl anni ngandi nadequat er esour cesc an l eadt of ai l ur eoft hebusi nessst r at egi esr i ghtf r om wher ei tst ar t ed.Leader smos t l yf ocust hei reffor t son get t i ngt hecont entt hati sdes i gnedi nst eadofput t i ngt hei rknowl edgei nmaki ngt heupf r ontpl anni ngof t her equi r edwor kbas edont heav ai l abl er esour ces . 2.Sl ow Deci si onMaki ngPr ocess:Mostoft het i mest hefi r msar enotabl et omodi f yi t sbusi ness s t r at egi essot hatt heycanhel pt hems el v esadj us ti nt hemar k et pl ace’ sc hangi ngenvi r onment swhen compar edwi t ht hei rr i v al s.Whent hepr oces sofDeci si onMaki ngi ss l owi tcanbeoneoft hepr i me r eas onst hatmi ghtl eadt ot hef ai l ur eoft hefir m andc anl eadt ot hecompet i t i v eadv ant agewhen compar edt ot her i v al fir msouti nt hemar k et pl ace.Powerdi v i si onbet weent hel eader sandmanager scan actasoneoft hek eyas pec t si nt hedec i si onmaki ngpr ocess . 3.KnownSt r at egi cLi abi l i t i es/ Commi t ment s:Manycommi t ment sar epr omi s edbyt hefir msal ongwi t h gr owi ngphaseoft hemar k et pl acedependi ngont hei rabi l i t yl i mi t st opar t i c i pat eal ongsi det hei rr i v al fir ms, butt hi sc ani nst eadr esul tasadi sadv ant agef ort hefi r m.I ti sr equi r edf ort hefi r mt obewel l mi ndf uloft he l ongt er m ev ol v i ngt ec hnol ogi esandt heys houl dal s onot et hatt heyar enev erov erc ommi t t edorel set he r esul t scanl eadt ot hef ai l ur e. 4.Ther ei saknownt er m cal l ed“ I car uxPar adox”aphenomenonofunex pec t edbusi nes sf ai l ur eaf t era phaseofnot i ceabl esuccess ,t hi sf ai l ur ei sgener al l ycar r i edbyt hev er yf act or st hatoncel edt ot hefir m’ s pr i mar ysuccess .Mos toft hefir mseasi l ygets oamaz edbyt hei ri ni t i alacc ompl i shment st hatt heyst ar t bel i evi ngt hatt hesameamountofeffor t sc anl eadt ot hef ut ur es uccessst or yaswel l .Thi scanr esul ti nt o l i mi t edands hor tvi s i ongr owt hoft hefir m ast heyt endt omi s soutont hemar k etmat t er st hatar er equi r ed t obes eent omanaget hemar k et ’ scompet i t i v eadv ant age. 5.AbsenceofCommuni cat i on:Communi cat i oni soneoft hek eyf ac t or st hatcanl edt ot hefi r m’ s

s uc ces s,l ackofcommuni cat i oncanr es ul ti nt ot hef ai l ur eoft hemanagementast heyf ai l t ounder s t and t hatwhatas pect sorchangesneedst obeaddr ess edaspr i or i t yt os ust ai ncompet i t i v eadv ant agei nt he mar k et pl ace.Mostoft hefi r msf ai lt ocommuni c at eonwhyt hec hangei sr equi r edandt hi sc anl eadt ot he fi r m’ sf ai l ur eov ert hephas eoft i me. Al l t heabov ef act or sar edi r ec t l yr el at edt ocompet i t i v eadv ant age,i fanyofaspect sar ei gnor edc anr esul t i nadv er secons equencesandcanaffectt heov er al l pr ocessoft hefi r m ul t i mat el yl eadi ngt ot hef ai l ur eof t hefir m.

Chapt er04Quest i ons: Q1.Whatar ef unct i onall evelst r at egi es?How t heyr el at et ocompet i t i veadvant ageofacompany? How canf unct i onall evelst r at egycont r i but et oeffici ency? Funct i onall ev elst r at egi eshel pt ot hefir m ex pandt heoper at i onalact i v i t i est oac hi ev et hebet t er I nnov at i on,maxi mum l ev el ofeffici enc y ,bet t erandi mpr ov edc ust omerf ul fi l l mentands uper i orqual i t y pr oduct s.Al l t heses peci al i z edabi l i t i esc anbeobt ai nedf r om t hef unct i onal l ev els t r at egi es,t hatany or gani z at i oncansear c hf or .Thei dent i fieddec i s i onscanactasass et sandsk i l l st hatcani mpr ovi s e or gani z at i onwi t hf unct i onal l ev els t r at egi escompet ences.Ont heot herhand,i ts houl dbenot edt hatt he qual i t yoft heor gani zat i on' sabi l i t yt oacqui r emai ns t r eam capabi l i t i es ,dev el opment ,andcust omer s at i sf act i onwi l lr ev eal whet heri ti ss epar at ef r om compet i t or s ' pr oduct sandwhet heri thast hel owestcos t oppor t uni t y .Funct i onalLev elSt r at egi esar edi r ec t l yr el at edt oCompet i t i v eadv ant ageofacompanyas whenacompanymanagest oachi ev ebet t erI nnov at i on,maxi mum l ev elofeffic i enc y ,bet t erandi mpr ov ed c us t omerf ul fi l l mentandsuper i orqual i t ypr oduc t si nt hemar k et pl acet heni tcaneas i l ys ust ai ni t sgr owt h compar edt oal l i t sr i v al s . Asweknowt hatt hebusi nessi swel ldr i v enandi mpr ov i s edwhent hefir m’ si nput sar esuc ces sf ul l y t r ansf or medi nt obet t erout put s / pr oduct s.Pr oduct i vi t yi smeasur edbasedont hei nput st hatwasneeded t opr oduc et hepr oduct sort her es ul t s .I nor dert obemor eeffic i ent ,anor gani z at i onneedsf ewer r esour cest opr oduceapr oduct ,what ev eri tmaybe,t ohel pt heor gani z at i onsel l i t spr oduct sata compar at i v el yc heaperpr i ce. Funct i onall ev elst r at egyc ancont r i but et oeffici enc yi nf ewway s: I tc anhel pt hefir m hav ei t sl ear ni ngeffect swhi c har enot hi ngbutt hemeanst hatcomef r om l ear ni ngf r om i t sownmi st ak es.I mpactonl ear ni ngs cal ei sani nv es t menti nr esour cesobt ai ned,cos t sgai ned,i nt he l ear ni ngpr ocess .Fori ns t anc e,r epeat i ngt hepr oces sesmul t i pl et i mess ot hatwear es uc cess f uli nfindi ng t hebestwayt oacc ompl i shanyt as k.Whenwor keffic i enc yi si ncr eas ed,t hent heuni tcost sar e decr easedbecausewi t ht hel ear ni ngeffect speopl et endt ot ak et hemosteffici entwayofper f or mi ngany t ask . I tc anhel pi ncr easet hes cal eofec onomybyi ncr eas i ngt hefi r m’ spr oduc ts al es -Cos tperpr oducti s r el at edt oi nc r easedpr oduct i on.Thi sc anal sobec ons i der edast hefir m’ sabi l i t yt oachi ev emor e not i ceabl edi v i si onsofs pec i al t ywi t hi nt heor gani z at i on.Speci al i z at i oni ssai dt ohav eaposi t i v eeffecton effici enc y ,basi cal l yf ort hef ol l owi ngt hef actt hati tal l owsr epr es ent at i v est obeex t r emel yt al ent edi neac h fi el dofs t udy .

i tcanal s ohel pi nc ur vi ngt heex per i encel ev eloft hefi r m byi nc r easi ngt hefir m’ sabi l i t yi ni mpr ovi s i ngt he dev el opmentofpr oduc torpr ov i di ngabet t ermanuf act ur i ngex per i ence.I nawayi thel pst hefi r mt o r educet hepr oductcost sdur i ngi t sl i f espan.Thi sc anal sor esul ti nt hepr oduct i oni nc r ementandbet t eror doubl est hecos toft hepr oduct i onuni t . Q2.Descr i beeconomi esofscal eandhow i tr el at est ocompet i t i veadvant age.Whatst r at egi c si gni ficancedoeseconomi esofscal ehavef oracompany?Whati tdoeswi t ht hecompet i t i ve advant ageofacompany?

Economi esofScal e:Economi esofScal ecanbeconsi der edasanoppor t uni t yf ort hefir mt o accompl i shamor epr omi nentdi vi si onofwor kandspeci al i z at i oni nl ar gev ol umesbecauset hecost pr i ceperpr oducti sassoci at edwi t hi ncr easednumberofout put s.Economi esofscal ehol dsast r ong r el at i onwi t hcompet i t i veadvant agebecausei tcanhel pt hefir mt of ocusont hefixedcostsuchas Mar ket i ng,Resear chandDevel opment ,Machi ner yBuyi ng,Manuf act ur i ngcost soft hepr oduct s acr ossal ldepar t ment sbasedont heenor mouspr oduct i onvol ume.Speci al i z at i onhol dsav er yposi t i v e i mpactoneffici enc y ,es peci al l ywhenwet hi nkofacaset hatenabl esagent st obeext r emel yt al ent edat pl ayi ngoutapar t i c ul arr ol e.Theabi l i t yoft hefi r mt hatcanpr oduc es i gni fic antquant i t i esandac hi ev e gr eat erspeci al i z at i onc anbeconsi der edasanot herbenefitorsour ce.Agood/ posi t i v ei nfluenceon pr oduct i vi t y ,basi c al l yanenvi r onmentt hatal l owswor k er st obemor ecompet enti nt hei rt as kscanbe t er medasspec i al i zat i on. Economi esofsc al ehel pst hefir mt oi nc r easei t spr oduct i onandgai nmor eandmor epr ofi tand Compet i t i v eAdv ant agei t s el fmeanst headv ant agest hatacompanycanr ecei v ebymaki ngmor eand mor epr ofit st hatcanbedonebymaxi mi zi ngt heshar ehol der ’ sv al ueandr educi ngt hecostoft he manuf ac t ur edpr oduct s.Thi sc anr es ul ti nt heenhancementoft hefi r mi nt hemar k et pl aceandcanhel p t hefir mt os t andoutamongstal li t sr i v al sbypr ov i di ngbet t eradv ant ageov erpr oduc t ’ ssal esand pr oduct i on. Q3.How doesi nnovat i onr el at et ocompet i t i veadvant age?Whatcanbedonet osust ai ni nnovat i on i nacompany? Oneoft hemai nr eas onwhyi nnov at i oni st er medast hemos ti mpor t antas pec tofcompet i t i v eadv ant age i sbecausei nnov at i onhasl edt ot heemer genc eofnewpr oduct s,t hankst oi mpr ov ement st hatcanmeet t hebet t erpr oductqual i t ycompar edt ot hepr oduc t sal r eadyav ai l abl ei nt hemar k et pl ace,t he under st andi ngoft hecust omerr equi r ement s ,andt heneedt or educet heuni tcos t sbydev el opi ngnew i nnov at i v ei deas .Wi t ht hehel pofi nnov at i on,t hefi r m canpr ovi dei nnov at i v esol ut i onsi nt er msoft he adv ancementori mpr ov ement sofi t spr oduc t ,t hi soffer sanadv ant ageov ert hefi r mr i v al si nt he mar k et pl ace.Thi sc anal sohel pt hefi r mt or at ehi ghpr i cesf orpr oduct spr oducedandi nasmar twayt o mak epr oduct sl essexpens i v et hant her i v al s .Al lt heor gani z at i ons houl dhel pt hems el v esandt r yt o i nnov at et hei rpr oduct sands er v i c esr egul ar l yasi tcanhel pt hem t omai nt ai nacompet i t i v eadv ant age ov err i v al s .I ti sr equi r edandnecess ar yf oranor gani zat i onorfi r mt or emai ni nnov at i v e,becausei tcan di r ect l yhel pt hem r educ et hef ai l ur er at et hatmayocc urdur i ngt hei nnov at i onpr ocess .Whenacust omer i sf ul l ysat i s fiedbyt hepr oductsayi nt hepastt heni tget sdi ffic ul tf ort hefi r mst ok nowt hear eaof oper at i onsort oj us t i f ypr oduct i ongoal saspert hemar k etdemand.Thefi r m’ sf ut ur ei nst abi l i t yc anbe r educedbyex t ens i v emar k etr es ear c h.Ther ei sal way sademandi nt hemar k etf ornewandl at est t ec hnol ogi esandi t ’ sdi fficul tt ocl os et hegapf ori nst ancet hei nt r oduct i onofanewpr oducti nt he

mar k et pl acei fnots uccess f ulc anl eadt oi neffici entandfir m’ sf ai l ur e.Thi scaneas i l yhappenwhen c us t omer st endt odev el opi nt er es ti not herpr oduc t sdev el opedbyt her i v al s ,becaus et hepr oduc t ’ s desi gncer t ai nl yc annotmeett heneedsoft heendus er .Thi si sar es ul tofcomponent swi t hpoordesi gn andpoorqual i t yandt her ef or e,anyfi r m musts us t ai ni nnov at i oni nt hepr oduct spr oduc ed.

Q4.How doescust omerr el at i onscont r i but et ocompet i t i veadvant age?Whati st heeffectof cust omerr el at i onsonval uecr eat i onandi t scomponent s?

Customer satisfaction is an important aspect that can contribute to competitive advantage and to retaining the brand. To get a better feedback from customers, firm’s need to provide to what end users need at a value they will pay as far as the organization's long-term benefits are not compromised. The directness of a competitive predator can harness the strength of the brand. The strong product differentiation and brand loyalty offer organizations the advantage of evaluating their products, organizations can also charge higher rates or keep costs low to offer more products to the end user. The organization that satisfies its customers will have a competitive advantage regardless of high or low costs. Achieving a better response to...