competitive advantage

  

Definition

A superiority gained by an organization when it can provide the same value as its competitors but at a lower price, or can charge higher prices by providing greater value through differentiation. Competitive advantage results from matching core competencies to the opportunities.

Use this term in a sentence

  • We were fortunate enough to enjoy a competitive advantage in the market which allowed us to soar to number one in sales.

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  • Having a bunch of bright minds on your side will give you the competitive advantage when it comes to strategizing.

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  • I realized that having the staff dress up as characters would give us a competitive advantage because people loves characters.

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