Competitive Advantage
Competitive Advantage
1. Respond to the following in a minimum of 175 words:
- Brick-and-mortar stores and online businesses have different perspectives regarding competitive advantage.
- With their different perspectives in mind, evaluate how and why their strategies differ.
- What recommendations would you make to brick-and-mortar stores to capitalize on how they can compete more effectively with online businesses?
2. Respond to the following classmates:
Rachael Sizemore
15 minutes ago, at 8:17 PM
NEW
Brick and mortar stores value the in store experience. The goods are able to be seen up close and in person, and are also able to be taken out of the store the same day as purchase. Instant gratification is a huge part of their competitive advantage, as the in store experience is something all stores compete for. Their main goals are to sell the most products and have the best in store experience. Every brick and mortar retailer wants the customer to purchase their product from one of their stores. This is why they aim to always have adequate stock of all their products. If they are out of stock on an item, they risk losing business or the customer leaving the store without purchasing anything.
Online retailers have different goals and different ways in which they gain competitive advantage. First off, they aren’t concerned with an in-store experience or instant gratification, as delayed gratification and ease of use are their main goals. They gain competitive advantage with price, their websites, and customer reviews. Customer reviews help the online retailer gain popularity if they are positive. The online retailer gains competitive advantage by offering a wide array of quality products and services at a decent price, and by the ease of use on their websites.
Some retailers, such as Walmart are both brick and online. They have stores and online websites. This allows them the chance to gain competitive advantage for both markets. Hybrid retailers hold the greatest advantage, and having both stores and online catalogs allow the retailer to have a stake in both markets.
3. Respond to the following classmates:
Bill Matenga
1 hour ago, at 7:10 PM
NEW
Online stores and brick-and- mortar stores are ll stores and I treat them equally the same. Online stores have their target customers (segment) that they focus on serving and brick-and-mortar store have their own target customers or market that they too focus on serving.
In terms of comparing them, online stores, such as Amazon focuses on having every product that a customer might ever want to purchase at their finger-tips, customers can browse millions of different items everyday in the leisure of their homes. There are challenges also in running online stores, for example, handling customer complaints due to unsatisfactory service or delivery, managing returns and refunds, security of the website, privacy concerns, as well as on time delivery to name a few.
Nowadays, due to the speed the world is travelling at, many people are busy and have no time at all and online shopping is the best option for these individuals, so the number of people shopping online keeps increasing. Brick-and-mortar stores are traditional and there are things that are just best to be bought at a local store, fresh foods for example, and other items depending on customer preferences on selection.
My recommendation is that they (brick-and-mortar) should also sell the same goods online and deliver them to customers in a timely fashion rather than having customer pick up centers.
