The competitive advantage can be sustainable in terms of competitive performance, but its central core should be simple and obvious to show the organization’s potential. Despite this, the digital age focuses on the digital advantages and smartening the operations and processes, which can distance a company from its competitors in the market.
Sustainable competitive advantage has durability, longevity, high defense capability, good tolerance, high bio-availability, high support capability, etc. The longevity of a business’s competitive advantage depends on how long it will take that competitor to copy or even overtake your advantages.
Nowadays, large automobile companies also have to redefine their competitive advantages over competitors.
Customer is the leader of the market
Now a day people do not just buy cars. They are looking for solutions that address different lifestyles. Some consumers turn to electric vehicles, while others embrace auxiliary driving features such as parallel parking assistance.
Automotive industry leaders are now focused on exploring the target market’s demands and finding drivers’ requirements for a different driving experience. Therefore, they need to define the range of their customers and examine their desired experiences.
This data is obtained through customer contact points and demographic information, that companies should interact directly with the customer. Artificial intelligence, chat bots, and AR (Augmented Reality) help large automotive organizations in this management.
Customer needs an ecosystem
At present, the younger generation does not even go to buy a car. They prefer to use the shared automobile. Therefore, the new policy of the world’s automakers is based on the ecosystem participation of manufacturers and transport companies.
Those who use the shared model should create a coordinated team of salespeople and technicians, insurance companies, etc. This ecosystem can reach a significant database based on technology to optimise production.
Customer focus on production
The superiority of production can be one of the most critical competitive advantages. Automakers need to find ways to improve their performance and meet customer needs. In addition, for optimal production, these companies must be careful in attracting and retaining engineering talent.