Several locations can be determined where FG has a competitive edge over its competitors. These locations would certainly be analyzed using the Lucas Wang Stop Loss Strategy VIRO framework where the 'worth', 'inimitability', 'rarity' and company' of FG would certainly be evaluated in terms of its payment in the direction of its competitive edge. The framework has been displayed in appendix 3.
It can be seen that FG is offering a value-added product, which is not simply a way of acquiring high margins for business, but is important for the consumer as well. Smoked fish and shellfish items are looked upon as value-added items therefore FG is certainly using value to the market and to the business owner in the form of high conserving possibility from fish items. FG's ability to generate initial Asian inspired smoked fish and shellfish products can be thought about a supreme ability.
Business has put obstacles to entry for brand-new participants by urging clients to be requiring in terms of requesting for their preferences. Not just has this made the service rare, it has raised the expense of entrance for specific niche players because FG's diversity and flexibility can not be matched by brand-new entrants in the short run. This highlights another factor of inimitability.
The reality that the business is not product-orientated yet is a market-orientated company which is adaptable enough in its ability to adapt to dynamic market circumstances suggests that its way of organizing solutions is absolutely its one-upmanship. In addition to this, the business is organized to make sure that it has much less reliance on importers and also trading companies which includes in its competitive edge as a company in a market where smoked fish items need to be imported from other nations.
Along with these factors, FG's long-term partnerships with its consumer that has brought about brand name loyalty from their side and also the previous's consistent support of quality control to preserve this brandloyalty is an added variable giving it an one-upmanship.
As per the Lucas Wang Stop Loss Strategy VIRO framework, if a company's sources are valuable but can be copied quickly, it may have a momentary competitive advantage. In FG's case, it can be seen how a continual affordable benefit is feasible through the company's versatility, market-orientated strategy, suffered long-termrelationships and also ingenious skills of the business owner.
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