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Competitive Advantage
Results from creating superior value for customers relative to competitors; requires that the customers� willingness to pay is greater than the cost of creating the value.
Implications
The attributes that allow a company to outperform its competitors, such as cost leadership, unique product features, strong brand reputation, or superior customer service.
Example
Example: Amazon�s competitive advantage lies in its vast distribution network and efficient logistics, allowing it to offer fast and reliable delivery at scale.
Related Terms
Different from core competencies, which are internal strengths, competitive advantage is about how these strengths translate into superior market performance.
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