Competitive advantage is attained by increasing the focusing on the elements of innovations, marketing operations, customer satisfaction and product/ service offering to favorably position the business in the market against the competitors.
Porter has provided extensive insight on the concept of competitive advantage and the strategies that can be valuable for business to attain competitive advantage. For retail operations, it has been highlighted by Fahy et al, (2004) that sponsorship is a tool that can be employed by the retailers to increase the potential of the company to attain competitive advantage. “Critical to attaining an advantage in the competitive world of sponsorship is the deployment of a range of organizational resources to support the sponsorship investment” (Fahy et al, 2004). Their claim is supported by the conclusion that “effectively resourced sponsorships generate a competitive advantage in the market for sponsors/zips, which in turns leads to competitive advantage and superior performance in product markets.” (Fahy et al, 2004)
Researches regarding the development of strategic advantages in the retail industry have revealed significant information about the successful strategies used by the various retailers. The results of a survey conducted by Baron et al, (2001) across theUKprovided insight on how the major the food and grocery trail sector have achieved competitive advantage through the use of a convenience format
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