Studying the Phenomenon of Competitive Advantage and Differentiation: Market and Entrepreneurial Orientation Perspective

Haseeb Mustafa¹, Khaliq Ur Rehman^1, , Syed Ahsan Raza Zaidi² and Fahad Iqbal³

¹School of Business & Economics (SBE), University of Management & Technology (UMT), Lahore, Pakistan

²M Phil from National College of Business Administration & Economics (NCBA&E), Lahore

³M Phil from University of Central Punjab (UCP), Lahore

Cite this paper:
Haseeb Mustafa, Khaliq Ur Rehman, Syed Ahsan Raza Zaidi and Fahad Iqbal. Studying the Phenomenon of Competitive Advantage and Differentiation: Market and Entrepreneurial Orientation Perspective. Journal of Business and Management Sciences. 2015; 3(4):111-117. doi: 10.12691/jbms-3-4-2

Abstract

The purpose of this paper is to identify and explain how market orientation and entrepreneurial orientation helps a firm in effectively differentiating its product or service offerings in relation to its industry rivals. The discussion in the paper has been done from various perspectives in the light of relevant past and modern researches while keeping the focus towards explaining how market orientation and entrepreneurial orientation practices of a firm allow it to achieve a competitive advantage in the industry by effectively differentiating its products. Market orientation has been discussed as an important antecedent to product differentiation and innovation which lead to greater competitiveness and superior performance in the industry. The findings suggest that market orientation and entrepreneurial orientation have a direct positive relationship with a firm’s ability to properly differentiate its offerings against its competitors. They help a firm in analyzing its customers’ needs, competitors’ strategies, and changing market conditions; reducing preference uncertainty, and understanding the consequences and associated risks with the late strategic moves and product differentiation strategies.

Keywords:
market orientation entrepreneurial orientation competitive advantage product differentiation strategy competition etc

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