Competitive advantage is:

Question

Quizplus · Accepted Answer

Competitive advantage refers to the unique combination of factors that sets a small business apart from its competitors and makes it stand out in the market. These factors could include a superior product or service, a better customer experience, lower costs, stronger brand recognition, or a more effective marketing strategy. The goal of developing a competitive advantage is to create a position in the market where the business is able to attract and retain customers, while also being able to withstand competitive pressures and maintain profitability over the long-term. Options A and B are incorrect because a competitive advantage is not easily replicated by competitors, nor is it solely based on having a "super idea."

Competitive Advantage Is