Competitive Advantage

Companies are struggling to compete in the market due to the availability of different types of competitors with those competitors providing similar products or substitution products. In addition, consumers nowadays are becoming more critical in term of their needs and wants. Therefore , the competition is getting harder day after day. Moreover, with so much variety of products and services, companies have to give more attention on getting the required competitive advantage. Competitive advantage is about how the company is trying to compete in the market. Therefore, it is the determination of the benefits that the company is going to be able to deliver for its consumers while others are not. However, some studies have identified some factors that may effect on the competitive advantage of companies such as the provided quality, cost reduction, delivering time, innovation , and flexibility to do changes on products or services whenever it is needed. Accordingly, selling the product or service with lower price than the competitors or selling products or services with higher quality than others' products and services will create a good competitive advantage for the company.