Using the Assignment $1$ Week $3$ template "Competitive Analysis: Competitor $1$ and Competitor $2,"$ follow the directions in the template to complete Assignment $1$ Week $3.$ Don't forget to include references. When finished, simply upload the entire template to Canvas.

The $5$ most frequently used and dependable strategic approaches to setting a company apart from rivals, building strong customer loyalty, and winning a competitive advantage are:

A low$-$cost provider strategy$-$ achieving a cost$-$based advantage over rivals.

A broad differentiation strategy$-$ seeking to differentiate the company$$s product or service from that of rivals in ways that will appear to a broad spectrum of buyers.

A focus low$-$cost strategy concentrating on a narrow buyer segment $($or market niche$)$ and outperforming rivals by having lower costs and thus being able to serve niche members Example $($private label manufacturers of food, health and beauty products, and nutritional products$)$

A focused differentiation strategy$-$ concentrating on a narrow buyer segment and outcompeting rivals by offering customized attributes that meet their specialized needs and tastes better than rivals

A best$-$cost provider strategy$-$ giving customers more value for the money satisfying expectations on key quality features, performance, and$/$or service attributes while beating their price expectations.