Competitive Advantages Of Spec 's Wine, Spirits, & Wines Essay
Spec’s Wine, Spirits, & Finer foods has several competitive advantages that work in their ultimate favor. Brand recognition is one of the greatest competitive advantages that Spec’s holds for their company. Specializing in Spirits and Wines allows Spec’s to have an inclusive target market. They target individuals who are looking for specific items and although their target market is very direct, Spec’s offers a diverse range of products that caters to those consumers who are in the market for wine, beer, liquor, cigars, or finer foods.
Spec’s also undergoes a very exclusive hiring process, this is considered a competitive advantage because Spec’s offers a technique that other companies do not. As spoken in the interview the primary goal of the company is to hire employees who have a general interest in the business, willing to provide top notch customer service, and desire to help customers to the fullest extent. As mentioned by Mr. Rydman, along with these characteristics employees must be willing to learn the ways of Spec’s industry and alter any procedures to satisfy and meet the ultimate goal of Spec’s industry. Mr. Rydman talked about having a core of people who live and breath what they do. They don’t watch the clock, and they fully understand what makes the company.
Another great competitive advantage that Spec’s has established for their company is cost advantage. Spec’s is known for having a unique broad variety of products…