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Essay / Research Paper Abstract
This 3 page paper looks at Porters ideas on competitive advantages focusing on differentiation and considers whether or ht they are still valid in the modern competitive environment, including the high tech industries. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEcompred.rtf
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Unformatted sample text from the term paper:
sell the same or similar goods, which are either replacements or acceptable substitutes, there can be a very high level of competition for the same business. The competitive advantage is
the way that the firms try and get the customers business. It has been argued that this is an outdated model, but it still appears to be valid. In
order to survive a firm needs to do this as soon as they enter the competitive market; otherwise they will not sell goods and will not survive. As a start
up or new entrant into a market they will be at a disadvantage, costumers will already know of some of the existing firms. It is this pressure that can be
seen as helping to drive forward innovation and differentiation with the use of a first mover advantage. The problem for any firm that is able to develop a competitive advantage
is that it will not last, there will always be competitors that do not want to be at a disadvantage if there is an advantage held by a competitor. It
has been noted that the average period of a first mover advantages is likely to be less than 18 months for new manufactured products, firms will reverse engineer the products
in order to find ways around the patents, and in some cases, as seen with Hoover when they developed their own bagless vacuum cleaner to compete with the Dyson Vax
bagless vacuum that had gained the first mover advantage, there is not always the attempt to find ways around the patents which result in legal action. When looking at
the development of competitive advantages they may be in many areas, from features and characteristics of a product, such as with the iPhone and the iPod, the image of the
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