According to Figure $4\mathrm{.}5,$ a company can translate its performance of value chain activities into competitive advantage by striving to develop a value chain with few support activities $($so as to keep costs low$)$ and focus on performing only those primary activities that deliver the most value to customers build a portfolio of resources and capabilities that contains substantially more competitive assets than competitive liabilities and then implementing ways to use its competitive assets to perform value chain activities more efficiently than rivals build a technologically innovative value chain that allows it to produce the highest quality product in the industry, thereby securing a differentiation$-$based competitive advantage develop more core competencies and distinctive competencies than rivals and thereby gain a competitive advantage based on superior differentiation$-$enhancing competencies and capabilities beat rivals by performing certain differentiation$-$ enhancing value chain activities more proficiently $($thus creating a differentiation$-$based competitive advantage keyed to delivering what customers perceive as a superior product offering$)$ or beat rivals by performing value chain activities more cheaply $($thus achieving a cost$-$based competitive advantage$).$ Copyingredistributing, or website posting is expressly prohibited and constitutes copyright violation