ALGORITHM OF USING COMPETITIVE ADVANTAGES OF А PRODUCT IN ADVERTISING COMMUNICATIONS
Author(s): Burykin Evgeny Sergeevich
Release: 2019-2 (29)
Keywords: Competitive advantage, types of competition, product, product levels, advertising, advertising appeal, advertising communications
Annotation: Competitive advantage is a system that has an exclusive value, giving it superiority over competitors in the economic, technical and organizational fields, and an opportunity to manage available resources more effectively. The formation and achievement of a sustainable competitive advantage of the product is a priority for any company from any industry and any field of activity. It provides stability, growth opportunities, creates barriers to entry of new players and, as a result, allows the company to receive higher profits from the sale of its products. And its use in advertising and marketing communications contributes to a longer-term positioning of the product in its market segment and in a clear consolidation of the image of the product in the minds of the target audience. In the framework of tough market competition, demonstration of the company and product advantages to the target consumers, as well as the benefits they will receive, becomes one of the essential means to promote business and work for the future. This is a fairly simple version of brand name positioning, that does not require large financial investments, but it is an effective tool for competing in a market. This article reveals product levels (i.e. functional purpose, properties and additional advantages, brand image) as well as the corresponding types of competition (types and subject of competition, the degree of brand awareness and reputation of the product) and competitive advantages (specific, rational, emotional). The article presents an algorithm for developing a rational competitive advantage, and provides recommendations and examples of its use in the process of making an advertising appeal.
Bibliography: Burykin EV.SE. ALGORITHM OF USING COMPETITIVE ADVANTAGES OF А PRODUCT IN ADVERTISING COMMUNICATIONS // Economics and Management. – 2019. – № 2 (29). – С. 94-100. doi: 10.21777/2587-554X-2019-2-94-100