How to Measure the Success of Competitive Strategies?
The success of competitive strategies can be measured using various metrics, including:
Market share: An increase in market share indicates that the strategy is effectively attracting more customers. Profit margins: Higher profit margins suggest that the strategy is enhancing the company's pricing power and cost efficiency. Customer satisfaction: Positive customer feedback and high retention rates indicate that the strategy is meeting customer needs. Brand equity: Strong brand recognition and loyalty reflect the success of differentiation strategies.