Cost and Value in Analysis of Competitive Advantage: 2 Sides of the Same Coin?
COST and VALUE are words used to identify the same quality, but from different viewpoints. The producer/manufacturer concentrates on cost, while the consumer/customer looks at value.
From this analysis comes the amazing range of products that are, essentially, the same - from motor vehicles to orange juices.
It is important that we consider competitive advantage in the same manner - from the viewpoint of both the manufacturer and customer.
By doing this, does the quality aspect become an essential element in the identification of competitive advantage?