SELLING YOUR JEWELRY: How To Define Your Competitive Advantages

What Is A Competitive Advantage?

Your competitive advantage (one or more) is what influences someone to buy something from you rather than one of your competitors. Do you make something of higher quality? Or less cost? Or especially noteworthy. Or use rare materials? What is it that sets you apart, or as Heather Bunker puts it, what is your secret sauce?

Competitive advantage is your ability to outperform your competition. It is you way to design, create, produce, distribute, market and/or sell products and services better than anyone else. It is something that cannot be easily replicated, or, if it is at some point, you can build back better.

There are all types of competitive advantages. Businesses might emphasize one, or several. Some examples of competitive advantages that jewelry design businesses might claim:

1. Authenticity and honesty

2. Rarity

3. Individuality, tailor-made, custom

4. Material quality

5. Technical prowess

6. Access, Location, Visibility

7. Timeliness

8. Special occasions (ready for those …weddings, etc.)