Competitive advantage in marketing is an asset that enables a company to stand out from its competitors in the marketplace, whether online or physical, and offer a product or service of better quality, at a lower price, or with unique features that meet consumer needs and expectations.
This advantage can be linked to the quality of the product offered, the pricing policy (skimming, alignment, or penetration policy), the company's online presence and visibility, the speed of delivery, the returns and guarantees policy, the professionalism of customer service, the ability to customize the product, the diversity of the offer, etc.
Competitive advantage can be achieved through a sound marketing strategy that targets consumer needs and expectations, develops a tailored offering, and establishes a strong, visible online presence.
It can also be achieved through offer differentiation, by proposing unique or innovative offers that meet specific needs or stand out from those proposed by competitors.
To maintain or strengthen its competitive edge in ecommerce, it’s important for a company to stay in tune with its consumers, monitor market and competitor trends, and adapt its marketing strategy and product and service offering accordingly.
This may require constant monitoring and the adoption of new technologies to stay competitive and offer an ultra-personalized shopping experience.
There are many ways to use your competitive edge in ecommerce marketing to improve your company's performance and stand out from your competitors in the online marketplace:
- Highlighting your competitive edge: It's important to communicate the qualities and assets that make your company stand out from the crowd and that correspond to the needs and expectations of consumers. This can be done through your website, social networks, online advertising, email campaigns, etc.
- Make competitive advantage a central element of pricing strategy: By offering quality products at a lower cost than their competitors, companies can stand out in their market and attract new customers.
- Offer an optimal shopping experience: To retain customers and encourage them to buy again, it's important to offer a smooth, pleasant online shopping experience, with easy navigation, a straightforward ordering process, and fast delivery.
- Improve the quality of after-sales service: By offering responsive, professional, and personalized customer service, a company can stand out from its competitors and improve customer satisfaction.
- Develop new offers and strategies: By innovating and offering new products and services that meet consumer needs and expectations, a company can strengthen its competitive edge and stand out from the competition.
Regardless of your industry and business model, it's important to note that competitive advantage is a constantly evolving element that needs to be monitored and adapted in line with market changes and consumer expectations.
