4 things to measure competitiveness
by anson on Dec.31, 2008, under Business, Business strategy, Marketing
Here are 4 things you need to know to measure competitiveness:
1.Cost
Even cost is a tool to compete that is used in a market, profitability relates with price and cost. Cost is a variable that makes price lower but still profitable.
2.Quality
Effectiveness from this factor has been shown by Japanese market in electronic staffs, steel, and cars where the quality of a product usually is said as a reason for customers to choose which product is going to be bought by customers and usually customers willing to pay more expensive to get a better quality of a product.
3.Dependability as a supplier
Reputation of how good you are in supplying products usually is a great weapon to compete. Customers may want to compromise about the price to get the products delivered in time.
4.Flexibility or Service
Flexibility depends on the production system design and process technology that is used. For some companies, if they are asked about variation of request, they usually answer with “we are not in that business”. The fact is, that market for that kind of business is big. So, competitor can choose a flexibility as a weapon for the business.
