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DQ Week 2 – Operations Strategy and Competitiveness
Research a company of interest in the service or manufacturing industries and answer the following questions. You may use an online source or a source from the Berkeley library. Usually, the company website is the best place to start.
Q1. Discuss your selected company’s mission statement, target markets, and specifics of their product and service offerings.
Q2. How does their operations function support their business strategies?
Overview
Competitiveness
We’ve all participated in numerous activities, such as sports or school. There might have been awards or incentives for placing high in these events. Business is no exception. We define competitiveness as a firm’s capacity and performance in a specific market to sell and deliver products and services in comparison to the ability and performance of other companies. [1] In other words, how will one company win over customers in order to become the preferred product or service?
Key Purchasing Criteria and Competitive Advantage
A company’s competitive advantage is the advantage it has over its competitors. This may be obtained through providing them with better and more value. Consumers are drawn in by advertisements for items or services with reduced pricing or superior quality. This is what drives brand loyalty, or why people choose one product or service over another.
Each firm must have a thorough grasp of its consumers and what motivates them to make purchases. These are referred to as important purchase criteria. They are the elements that customers analyze and consider while selecting a product.
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