Competitive advantage def.
the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them
Competitive advantage refers to a company’s ability to outperform its competitors in terms of profitability, efficiency, quality, innovation, or customer satisfaction. It is the distinctive edge that a firm has over its rivals in the marketplace, which attracts customers and generates higher profit margins. A competitive advantage can be achieved through various means, including proprietary technology, effective marketing strategies, strong brand recognition, operational efficiencies, low-cost production, or superior customer service. Maintaining a competitive advantage requires ongoing effort and continuous improvement to stay ahead of the competition.
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