HIGHMARK FUNDS

Generally speaking, there are two basic types of competitive advantage based on Michael Porter's five forces analysis: low cost and product differentiation. Low cost enables companies to produce goods or services at lower prices than their competitors. Product differentiation enables companies to provide consumers with benefits that exceed the value of the goods themselves. For example, Apple has successfully differentiated itself from its competitors by delivering high quality phones and computers at a premium price... A comprehensive competitive analysis will help you identify ways to differentiate your products from the competition and provide superior value to customers. You can also gain a cost advantage by offering lower prices for the same benefits or leveraging unique assets to overcome price-based disadvantages... Once you have a firm grasp on your operating environment, you can start creating a strategic plan to guide the direction of your business for years to come. Your..