BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A competitive advantage is anything that gives a company an edge over its competitors, helping it attract more customers and grow its market share. A competitive advantage can take three primary forms: Cost advantage–producing a product or providing a service at a lower cost than competitors.

Detailed explanation-2: -To gain and maintain a competitive advantage, an organization must be able to demonstrate a greater comparative or differential value than its competitors and convey that information to its desired target market.

Detailed explanation-3: -A competitive advantage is what sets a company apart from its competitors, in the eyes of its consumers. These advantages allow a company to achieve and maintain superior margins, a better growth profile, or greater loyalty among current customers. A competitive advantage is often referred to as a “protective moat.”

Detailed explanation-4: -Competitive advantage: anything that gives a firm an edge over rivals in attracting customers and defending itself against competition.