What is the basic definition of a competitive advantage?

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Quizplus · Accepted Answer

A competitive advantage is when a company has a set of unique features or qualities that sets it apart from its competitors and makes it more desirable to consumers. This could include things like brand recognition, a specific product feature, customer service, or pricing strategy. While production innovation, experience curves, and efficient labor can contribute to a competitive advantage, they are not the defining factors.

What Is the Basic Definition of a Competitive Advantage