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What is Competitive Advantage?
Shaheem DEM (SL), Manager, Sri Lanka, Member
Is it in simple terms "to be better than your competitors"? Is this correct?
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Competitive Advantage
Douglas Weber An organization can be better than its competition without having a competitive advantage. Competitive advantage is a unique capability of an organization that is not easily imitated, creating superior customer value.
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Competitive Advantage
Shazwan Mahboob, Student (MBA), United Kingdom, Member In simple terms, it is the unique selling point of a company.
For example, Coca Cola's secret formula or KFC's secret recipe for chicken.
Hope I answered your question.
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Competitive Advantage
Gajaba Gunawardena, HR Consultant, Sri Lanka, Member It is a relatively temporary phenomenon achieved through strategic marketing mix.
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Competitive Advantage
Jaap de Jonge, Management Consultant, Netherlands Note the difference between a competitive advantage and a SUSTAINABLE competitive advantage!
The last one is not temporarily but last for a long time.
That is why a sustainable competitive advantage is much more valuable then a 'regular' competitive advantage to any firm who can achieve it.
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