Sample Essay
Competitive advantage is attained by increasing the focusing on the elements of innovations, marketing operations, customer satisfaction and product/ service offering to favourably position the business in the market against the competitors. Porter has provided extensive insight on the concept of competitive advantage and the strategies that can be valuable for business to attain competitive advantage.
For retail operations, it has been highlighted by Fahy et al, (2004) that sponsorship is a tool that can be employed by the retailers to increase the potential of the company to attain competitive advantage. “Critical to attaining an advantage in the competitive world of sponsorship is the deployment of a range of organisational resources to support the sponsorship investment.” (Fahy et al, 2004) Their claim is supported by the conclusion that “effectively resourced sponsorships generate a competitive advantage in the market for sponsors/zips, which in turns leads to competitive advantage and superior performance in product markets.” (Fahy et al, 2004)
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