Question

My group and I are doing capsim for the first time, and we are stuck in how to do practice round 1. Where/how do you recommend to start for practice round 1?

Answer 1

SOLUTION:-

If you are planning to achieve broad differentation strategy then you must know what it is -

• It is a type of business strategy in which a Company gain competitive advantage over its rival companies by differentiating itself from others.
• This is done by providing unique products with unique attributes which is not present or offered by your rival companies.

for example -  

You make smartphone and you have been able to make phone with 5 cameras with feature like DSLR and Gopro in the phone which is not offered by any smartphone company then you achieve differentiation.

this is just example -

• Under broad differentiation, Competitive advantage is gained by distinguishing products with an excellent design, high awareness, and easy accessibility.
• R & D competency is developed that keeps designs fresh and exciting.
• Products keep pace with the market, offering improved size and performance.

You can start by focusing on R & D, quality, unique and excellent design.

THANK YOU, if any queries please leave your valuable comment on comment box......