Innovation: Investing in research and development can lead to unique products or services that set a company apart. Cost Leadership: Becoming the lowest-cost producer in the industry allows a company to offer lower prices than its competitors. Quality: Offering superior product quality can justify higher prices and attract discerning customers. Customer Service: Exceptional customer service can create a loyal customer base and positive word-of-mouth. Branding: A strong brand can create a unique identity that resonates with customers.