Harriet started her own company," Best Boots", in 2020. After having to walk long distances across campus to teach her tutorials, Harriet developed a foot pain and injury. Harriet 's podiatrist said that her condition was due to her boots not offering enough support." Best Boots' offer boot wearers more comfort without compromising on style. However, Harriet has encountered a conundrum. Harriet believes she has created a boot design, which allows her heeled boots to be agile, faster and completely reduce the risk of foot injuries. While no competitor is capable of this technology, patenting and developing her product is very expensive. As such, Harriet would need to mark up her product and no longer compete on a low-cost basis. Harriet wishes to seek your advice about what strategy she should approach.

Question: Explain the different types of competitive advantages. Then, discuss the different competitive advantages Harriet has the ability to achieve. Finally, using your knowledge of competitive advantage, provide recommendations and justification about which strategy Harriet should be approaching.

Answer rating: 100% (QA)

Competitive advantages are advantages that a company has over its competitors allowing it to generate greater sales or margins and retain more custome... View the full answer