Question

what is competitive advantages?

(please write short and simply)

Answer 1

Competitive advantage means the ability of a company to beat its competitors and to place in higher position in the market.

We can also say that competitive advantages are favourable conditions in which a company can generate more sales by producing products or services at lower cost and high quality. For best competitive advantage, companies should use different factors, those are qualitative products, company image, best customer services, effective supply chain etc...

To stay in market for long periods, competitive advantage is very useful to every company in every industry