Competitive advantage

Competitive advantage,

Definition of Competitive advantage:

  1. A condition or situation that puts the company in a favorable or high trading position.

  2. Competitive advantage refers to the factors that allow a company to produce better or cheaper goods or services than its competitors. These factors allow a manufacturing company to generate more sales or higher margins than its competitors in the market.

  3. When an organization gains, it can offer the same price to its competitors, but at a lower price, or by offering a higher price by differentiation, it can demand a higher price. Competitive advantage is gained by combining core competencies with opportunities.

  4. Competitive advantage is attributed to a number of factors, including cost structure, brand, quality of product offerings, distribution network, intellectual property, and customer service.

How to use Competitive advantage in a sentence?

  1. The biggest advantage of this is that the company's products are seen as unique and of high quality compared to competitors.
  2. I felt that dressing the team like characters would give us a competitive advantage because people love characters.
  3. Expansion is necessary to maintain competitive advantage.
  4. We are fortunate to have a competitive advantage in the market which allows us to be number one in sales.
  5. The comparative advantage is the company's ability to produce something more efficiently than its competitors, resulting in higher profit margins.
  6. Competitive advantage makes a company's products or services more attractive to consumers than other competitors.
  7. When you have a group of intelligent people, you have a competitive advantage when it comes to strategy.
  8. Competitive advantage can be divided into comparative advantage and privileged advantage.

Meaning of Competitive advantage & Competitive advantage Definition