Competitive Advantage|Essay pro
Posted: January 26th, 2023
Pick any pair of well-known rival companies (such as Nike/Adidas, Samsung/Apple, and Hilton/Marriott) and explain how one outperforms another. What does each need to do to remain competitive?
Between 250-300 words
SOLUTION
A competitive advantage is a unique feature or characteristic that allows a company to produce goods or services better or cheaper than its rivals, giving it an edge in the marketplace. This can include factors such as access to unique resources, proprietary technology, or a highly skilled workforce.
A company with a strong competitive advantage is able to generate higher profits and maintain market share over time. Examples of companies with strong competitive advantages include technology giants like Apple and Microsoft, and established brands such as Coca-Cola and McDonald’s.
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