Have achieved a competitive advantage. A company is said to have achieved a competitive advantage when the company implements a strategy that leads to superior performance relative to other companies in the same industry.
Competitive advantage are aspects that make the goods or services of a company superior. Although this term is usually used for the business world, competitive advantage strategies can also be applied by certain organizations, communities or individuals in a competitive environment.
To gain and maintain a competitive advantage, a company must be able to demonstrate greater quality than its competitors. They must also convey that information to the desired target audience. For example, if a company has products that are priced lower than those of its competitors, the company has a competitive advantage.
The same applies if the product they offer unique features that are not owned by other products. So, to create these advantages, companies can analyze competitive intelligence data to understand the strengths of their competitors.
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