Competitve Advantage

Competitive advantage is considered the means by which a company continues to maintain profit while still sustaining a spot over their competitors. Competitive advantage happens when one company can provide the same services as another company except these services are fairly cheaper. There are certain ways that a business can have comparative advantage over one another. A company has to be prepared to change with the changing economy. Certain behavior that a business started with may not produce much profit in the future with the way things are changing. Consistency is good in a business but you have to remember to keep up the times. In the business field, you have work on delivering benefits that will prolong your business's life. In the market that we are in, there are many companies waiting for the opportunity to shed some light on them. Almost all businesses face some stiff competition against rivals
Cost Leadership is one area that distinguishes competitors from one another. A lot of the competition is based upon price. Another concern that separates business is the way they promote. The promotion of a business is very crucial in a business stand point. Its provides the business with advertisement and gives the customer something to remember the customer by. Just a couple of points that assist the business in gaining a edge over their rivals. Competitive advantage is very important.