Question

A company achieves a competitive advantage when:

Answer 1

Competitive advantage is nothing but the condition that makes the business above its competitors. Competitive advantage is the ability of the firm to increase its values and its shareholders.

A company achieve competitive advantage when it has some type of edge over its competitors and can attract the customers and cope with competitive forces.

Example of competitive advantage is company keeping the lowest price of its products in order to gain competitive advantage. Lower price attracts more number of customers which helps in increasing the market share. Price sensitive customers will prefer to buy the cheapest products available in the market. Thus, it helps in gaining competitive advantage.