TURNING COMPETITIVE ADVANTAGE INTO CUSTOMER EQUITY

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Competitive Advantage is driven by the oversupply in a market. This makes the customers the force behind the suppliers to innovate, increase quality, and offer new products that are more attractive at a cheaper price. This will also create an imitation within the supplier market and often it leads to even more over supply. In order to keep up with the cycle of competitive rationality, firms need to manage a process of competitive advantage. This is a very cyclical process.

Managing Competitive Advantage as a process; the two sources of competitive advantage superior skills and superior resources are used to achieve one of two positions of advantage, or ways of competing low cost or differentiation. Those unable to achieve the low-position must make the product worth paying the higher price. In this millennium technological advantage may be the key to survival and success. The other two outcomes of achieving a position of competitive advantage are Customer Satisfaction and Customer Loyalty. Most customers switch for the reason of seeking variety not because they are not satisfied. A company that can understand its customers likes, needs, desires and can appeal to its customers will likely to succeed.

Customer Equity; the outcomes of ROI (return on investment) and market share are hard but historical and the outcomes of customer satisfaction and customer loyalty are future oriented but soft. Ideally a single outcome that is both hard expressed and future oriented. The proposed method is the CLTV (customer life time value). Which in turn leads to customer equity. CLTV is defined as NPV (net present value) of the profit a firm stands to realize on the average new customer during a given number of years.

A company can increase CLTV by Increasing the Lifetime by raising either the retention rate or the customer life (the number of years a customer can remain a customer. Increasing sales to, or as a result of, a customer by raising either the firm’s share of the customer’s purchases or the customer’s referral rate (the number of times the customer refer others to the firm’s products and services. Cutting costs of serving the customer.




I wanted to take Cingular Wireless as a managerial Application example because it is evident that the company has become a giant among the wireless giants today using much of the Competitive Advantage Techniques.

In regards to Product Innovation, Variety and Value; Cingular Wireless is the first company to offer roll over minutes amongst the Wireless Companies. This has given the company a big competitive advantage.

Increasing CLTV; Cingular Wireless rang up an innovative program that landed it more commercial exposure on CNN, plus the right to offer breaking news from the companys networks through its cell phones. This will also give Cingular a national exposure.

(http//www.cabletvadbureau.com/html/0oncable/cingular.htm)

In regards to Increasing Superior Skills; Launched in October of 000, Cingular combined the domestic wireless operations of SBC and Bellsouth in a merger characterized as the largest brand consolidation in the wireless industry. In order to have seamless integration, the company used the Docent Technologies E-Learning Edge program to facilitate all types of learning across the multitude of company wide initiatives, including Sales Force Automation, Human Resource automation, Customer Experience education for product rollout to retail outlets, New Employee Orientation.

(http//www.docent.com/customers/cs/cing04.html)

As an Extension, the measurement of customer satisfaction is not mentioned in the article.



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