Occurs when one company can make more profits selling its products or services than its competitors. It occurs because a company can charge a premium because their product or service is more valuable, or because they can sell their product for less than their competitors because they are a more efficient producer. Rational strategists always seek to establish a long term competitive advantage for their company. Many managers associate competitive advantage with the description provided in Michael Porter's Competitive Advantage (1985).
Occurs when one company can make more profits selling its products or services than its competitors. It occurs because a company can charge a premium because their product or service is more valuable, or because they can sell their product for less than their competitors because they are a more efficient producer. Rational strategists always seek to establish a long term competitive advantage for their company. Many managers associate competitive advantage with the description provided in Michael Porter's Competitive Advantage (1985).
