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IntroductionA company can implement many different basic approaches to competing successfully and gaining a competitive advantage over its rivals. However, it is important to note that all companies strive to deliver superior value to customers compared to the offerings of rivals. Superior customer value could mean a good product at a lower price, a superior product that is worth paying more for, or a best-value offering that represents an attractive combination of price, features, quality, service, and other appealing attributes. Therefore, in this discussion, you will have the opportunity to learn about and discuss the five generic competitive strategies that many companies use today to ensure optimal competitive advantages.
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