Outline Of A Business Information System

2.Competitive Advantage – It includes the best product of an Organization in the competitive market.

The purpose of this report is to analyse the Australia’s leading hardware store Bunnings in terms of their marketing strategies. The research methodology is based on qualitative research based on secondary sources of information (PESTEL). This helps analyse the marketing strategy and tricks in the Bunnings .The research is based on credible and academic sources which help understand how marketing strategies and tricks benefit Bunnings to obtain economies of scale, Identify market trend and market segmentation. A comparison of marketing plans and identifies the strength and weakness of Bunnings through market matrix. 5 porter forces would help to identify the Bunning position in the market and recommendation for new

Competitive strategy, after Porter, came to be defined as the strategy of a business unit which seeks to achieve sustainable Competitive Advantage (SCA). The literature on strategy deems the market-based view (MBV) and the resource –based view (RBV) as two approaches to giving businesses the competitive edge they need to compete in their industries. Aside from having competitive advantage as their ultimate goal, the two approaches are also similar in the sense that they both make use of particular tools and models in their undertakings. They also differ in numerous ways,

Competitive advantage is that a company has better ability in earning profit and profit growth compared to its competitors for the same group of customers in one industry.

Competitive advantage exists when a firm has strategy, product or an attribute that makes the firm capable of delivering similar benefit to that of competitors at a cheaper cost. Having competitive advantage is not enough the company should be capable of sustaining that particular competitive advantage for a longer period of time.

Competitive advantage is explained by Mahoney and Pandian (1992) as the function of industry analysis, organizational governance and the firm’s effects in the form of resource advantages and strategies. In order for a firm to be competitive it must adapt to the volatile business environment and through strategic management decisions establish a competitive advantage that will ultimately produce superior performance relative to its competitors (Akimova 2000).

convenience of location’ (Queensland government, 2016). As Resource-based view (RBV) theory holds that the competitive advantage and superior performance

There are several basic approaches to competing successfully and gaining a competitive advantage over rivals, but they all involve delivering more value to the customer that rivals or delivering value more efficiently than rivals. Competitive strategy relates to all the different strategies a company may do to:

Today’s markets hold aggressive competition between companies in order to dominate as much share as they can from the market. That is why most companies are seeking for a competitive advantage that will differentiate them from their other competitors and makes consumers buy their services or products over the others.

Competitive advantage(CA) is an advantage competitors gain by providing or offering customers or consumers greater value for their money through product and service differentiation or through lower prices. Maintaining competitive advantage is crucial to many businesses or organizations' success in order to survive in the market. Competitive advantage is characterized by superior performance which could be an attribute to outperform the competitors whether current or potential; or gaining a higher market share in a particular industry thereby ensuring market leadership; or ultimately, maximization of profit.(JOBBER 2010)

In order to achieve a sustainable competitive advantage, it is essential to create effective strategies, which can beat the competitors (Competitive advantage, 2007).

exists when the firm is able to deliver the same benefits as competitors but at a

A Competitive Advantage is a peculiarity for an organization between it's competitors . It's achieved either by lowering prices or by greatening the value of the product or by offering luxury service and benefits to cope with high prices .

Competitive strategy is the moves and methods that the firm has taken and is taking to appeal buyers, improve its market position, and to endure competitive pressures. The strategy is about what a firm’s capability to try to knock off competitors and attain competitive advantage, which can be offensive or defensive. There are three approaches to competitive strategy, which are low-cost leadership strategy where struggling to be the overall low-cost manufacturer in the in industry. Moreover, pursuing to distinguish one’s product offering from competitors (differentiation strategy), and the last one is focus or niche strategy where aiming on thin portion of the market rather than the whole market (Porter, 1998).

Competitive advantage is viewed as a explanation of a firm success and long-term survival. With knowing the firm and competitiors, competitive advantage can be established by delivering more value to the customers in a more efficient manner (Day and Wensley 1988; Porter 1985). However, to a competitive advantage, the firm should focusing on the customers needs instead of their internal operations (Czepiel 1992; Zeithaml 1988).