competitive advantage

/Tag: competitive advantage

competitive advantage

That “Something Extra” You Offer to Make Customers Love You

Shep Hyken | September 12, 2019

In the realm of business—and especially customer service—we often talk about how to differentiate yourself from your competition. It’s those companies that manage to stand out from the crowd that end up being successful. When I work with companies, I urge them to find what makes them unique and use it as a competitive advantage. It’s always a treat when I meet people who not only agree with my philosophies but take them a step further. That’s where Rodney Gaddis comes in. I met Rodney at a conference where I was speaking about customer service. Rodney is in the very competitive field of lawn care as a Spring-Green franchisee, and...

The Magic Potion and the Gallic Village

Georges Panayotis | July 24, 2018

By Georges Panayotis Once upon a time there was a Gallic village that continued to resist the invader. Not content with being just an extremely popular tourist destination, it wanted to be able to boast of being the first in the world. However, the Gallic chiefs had spent decades looking for a recipe to make a magic potion that not only made their ultimate dream come true, but could also count the tourists who visited. The leaders also wanted to keep control over their flock at all costs, to control and ultimately to curb their villagers' businesses. But the villagers were not satisfied, because the costs of maintaining the village ...

Competitive Advantage 2018 – The World Has Changed

Robert A, Rauch | October 4, 2017

By Robert A. Rauch The classic model of competitive advantage is Michael Porter's five forces shown below. This is still a useful model for the hotel industry. The most interesting part of this in 2017 is the "substitute" portion of the grid–this is what Airbnb is all about and they will have had a huge impact on our industry by the time most people wake up to it. According to Porter, "the existence of products outside of the realm of the common product boundaries increases the propensity of customers to switch to alternatives." Michael Porter's Five Forces Airbnb has become a powerful force in the hotel industry and as a reactio...

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