Firms are constantly looking to differentiate themselves from the competition, albeit, many tend to focus on price differentiation rather than innovation. This tends to be the quickest and fastest solution for competitiveness without investing in research and development.
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The rapid growth of digital technology and software application use is fundamentally changing the way customers interact with businesses while impacting on both the strategy and business models of firms. More and more established companies and start-ups are using digital, to create a new source of revenue, to provide more value to customers and of course, change business models.
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