KEY FACTORS FOR COMPETITIVE SUCCESS

How do customers choose between competing brands? Which competitive capabilities do sellers have to possess? What resources would be necessary to achieve this? What does it take for sellers to achieve sustainable competitive advantage?

Common types of Key Success Factors: Technology-related: Scientific knowledge Research expertise High internet speed Mobile communications

Manufacturing-related: Low-cost production Quality of manufacturing High utilization of fixed assets Low-cost plant locations Access to adequate skilled labour High labour productivity Low-cost product design Capabilities to produce products that are in demand by customers (assembly, etc)

Distribution-related: Access to a strong network of distributors Gaining space on retailer shelves Having company-owned retail space Low distribution costs Accurate filling of customer orders Short delivery times

Marketing-related: Fast & accurate technical assistance Courteous customer service Accurate filling of buying orders

Breadth of product lines and/or product selection Merchandising skills Attractive styling or packaging Guarantees to customers (warranties) Clever advertising

Skills-related: Superior workforce talents/skills Quality control know-how Design expertise Expertise in relevant technologies Ability to develop innovative products & improve on products Do research & development (R&D) and get products past the design phase

Organizational capabilities: Superior and practical/functional information systems Ability to respond quickly to shifting market conditions Superior ability to employ Internet-related aspects of communication & e-commerce Managerial experience and functionality

Other types: Favourable image of the company (customer & competitor focus) Overall low cost Convenient location Pleasant employees in all customer-contact positions Access to financial capital Patent and/or product and/or service protection