What can be competitiveness?

This is a property of the object, which shows how it can meet needs compared to similar ones. For example, you can consider this term as an example of two brands of washing powder.

Product A is cheaper, of lower quality, does not wash the fabric well, and does not wash it completely. Powder B cleans better, rinses well from the material, and costs the same.

It is obvious that the B brand product is more competitive. Although in reality, things may be a little different.

This is a very simple example because assessing competitiveness is a rather complicated thing.

A large number of factors that affect the popularity of a product or company are taken into account.

And although the analysis ultimately boils down to assessing the price-quality ratio, it is not so easy to properly assess competitiveness in the case of products.

What is this for?

To understand whether this or that product will fail in the market, whether the company will burn out or succeed.
No one can say for sure and yet this often helps to avoid unpleasant surprises.

Regardless, the customer – and he is the chief judge and appraiser – must be satisfied with the product and service; otherwise, they may disappear from the market.

That is why every manufacturer is constantly thinking about how to surpass rivals and invents new methods of competitiveness and its improvements.

That’s why every big company has a marketing department that deals with it. The term “sustainable competitive advantage” (UPC) is often used among traders and economists.
It means a unique feature of the product that can help in its implementation and popularization in the consumer environment.

Unique taste, smell or color, chemical or physical properties, exclusivity, free maintenance, pleasant things, like toys inside the breakfast cereal box – anything!

When advertising a product, manufacturers usually very persistently mention one or another feature of this product – it is the UKP itself. Managing competitiveness is also not an easy task.

A large number of different factors and find the right combination, a formula that will help the product stay on the market and gain popularity.

You can start in simple ways – improve quality and lower the price, or you can turn to non-standard approaches, for example, to introduce a lifetime warranty.

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