Competitive advantage

• Competitive advantage refers to the features of a business and its products that are perceived as superior to its rivals by customers
• It is how a firm’s product is made both distinctive and defensible

  • Distinctive means that it is different from the competitors
  • Defensible means that the business can prevent competitors from copying it

  
• • Examples of the source of businesses competitive advantage include:
  • Quality e.g. Audi is well known for the exceptional quality of the finishing inside their cars
  • Delivery times e.g. Amazon Prime delivers products within 24 hours of ordering
  • Low Price
  • Reliability 
  • Ethical stance 
  • Design