New in Stock - Preliminary Exam Business Report Samples (Band 6 Exemplar)
Businesses need to differentiate their offering by having a ‘point of difference’ - POD.
This is related to positioning; how a business aims to have itself perceived by consumers.
Develop and promote product / services to set apart from competitors and position business to appeal to their target market.
Points of differentiation (ways to make your offering different):
Product Variations: Features, functions, level of customisation (including intangible elements)
Customer Service: pre-sale, in sales process, and after-sales service (see People Strategy and Human Resources)
Environmental Sustainability: processes / output that is good for planet
Convenience: Delivery times, accessibility, proximity
Social & Ethical Issues: Fair Trade, ethical supply chain, no exploitation
One of the strategic goals of operations management and an operations strategy too.