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A specific cost position can greatly influence a company's competitiveness. If a company can maintain a lower cost position, it can offer its products or services at a lower price than its competitors, which can attract more customers and increase market share. On the other hand, if a company has a higher cost position, it may need to justify this through superior quality, innovation, or other value-added features. However, it's important to note that a low-cost position isn't always advantageous, as it can lead to lower profit margins if not managed properly.
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Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against competition and generate higher ROI on your strategic...
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For instance, other dimensions to measure could be brand identity, distribution channels, quality or technology, level of vertical integration, or specific cost position or services offered. In this case, the y-axis represents price and quality while the x-axis highlights the geographic coverage of competitors, or how many locations they have throughout the world. You then group the players according to where they land and plot them on the map.
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