Preventing competitors from imitating your products

Hello readers, today I will be writing about ways you can prevent competitors from imitating your products. “Imitation is the most direct form of competition; thus, for a competitive advantage to be sustained over time, barriers to imitation must exist”. (Robert M. Grant). Isolating mechanisms is used to describe the barriers that limit the threats of imitation. These are the ways below:

• Obscuring superior performance:

“A simple barrier to imitation is to obscure the firm’s superior profitability“. (Robert M. Grant). That is you should hide your firm’s profitability from the public. However, public limited companies are not able to do that

• Diagnosing Competitive advantage:

“If a firm is to imitate the competitive advantage of another, it must understand the basis of its rival’s success”. (Robert M. Grant). Thus, the way you achieve your competitive advantage should not be known to the public.

• Acquiring Resources and Capabilities

"An imitator can mount a competitive challenge only by assembling resources and capabilities necessary for imitation”. (Robert M. Grant). The period it takes competitors to acquire and mobilize resources and capabilities is the period of time your competitive advantage can be sustained for. Thus, complex firm specific resources should be used.

Make sure your business is halal. Everything should be done seeking the pleasure of Allah. Part of seeking the pleasure means hoping for a reward from Him in this life and the Hereafter. Everything happens according to the will of Allah (you have freewill, therefore, you are responsible for your actions).

Halal means anything that is lawful Islamically.

Alhamdulillah (Praise be to Allah). May Allah send peace and blessings to Prophet Muhammed (P.B.U.H). Thank you for reading this article. Like this page on facebook. Keep reading this blog regularly. Cheers!

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