Differentiation,cost leadership are specifically a competitive advantage sustainment strategy.
Strategy refers to the plans that a company makes to attain its goals. The strategies formulation plays a vital role in the success of the companies. Any business before formulating the strategy it must frame clear ideas and goals. Competitive advantage is the major thing that must be focused by any business for achieving long term success.
The achievement and the sustainment of the competitive advantage also involves the strategy formulation. The main things included in this are Differentiation,cost leadership and also focus. Offering the products at much cheaper price than competitors and differentiating the products from the competitor products also helps in sustaining competitive advantage.
