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Definition

A competitive advantage exists when there is a match between the distinctive competencies of a firm and the factors critical for success within the industry that permits the firm to outperform its competitors. Advantages can be gained by having the lowest delivered costs, or by differentiation in terms of providing superior or unique performance on attributes that are important to customers.[1]

References

  1. ^ American Marketing Association. Dictionary. <https://www.ama.org/resources/Pages/Dictionary.aspx>

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