Attaining a competitive edge
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Competition has intensified among discount retailers in recent years. How can Dollar Tree continue to distinguish itself in this industry? What changes in the competitive strategy—if any—would you recommend, and why?
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Solution Summary
Any firm, be it one which offers high-priced products or one which sells extremely low-priced items, can improve its competitive position by resorting to many different tactics. Such avenues include differentiation, cost-cutting, improving perceived quality, price alteration and promotion.
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Usually, a firm can attain a competitive edge through many avenues:
a. quality
b. cost
c. service
d. differentiation
e. flexibility
f. speed
Perceived quality is in the mind of the buyer. As far as the potential buyer is concerned, any of these can improve the perception of quality: product characteristics, product variety, the location, the appearance of the store, the service provided by the personnel, money-back guarantees, store opening and closing hours. So the firm can try to get an edge over its competitors by resorting to one or more of the above.
If the firm can reduce its ...
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