Most companies operate in a competitive market, where it is crucial to outperform the competition. It can come from several factors, known as a competitive advantage. Usually, this process involves attracting customers through unique characteristics or features. For example, companies may use lower costs or better quality to outperform competitors while increasing business. Competitive advantage

Companies operating in a competitive advantage will always strive to achieve a competitive advantage. It includes the factors that allow them to produce goods and services better or at a lower rate. These factors contribute to attracting more customers while increasing a company’s sales. Therefore, competitive advantage is one of the essential aspects of achieving

Michael Porter discussed how companies achieve competitive advantage in his book on “Competitive Advantage: Creating and Sustaining Superior Performance”. This advantage comes from a company’s products and services. Through competitive advantage, companies can increase their market share and generate more revenues. This book also suggests some strategies through which companies can achieve it. Porter’s generic

All companies want to grow their operations to expand their businesses. Various methods can help them achieve this goal. Usually, companies can grow organically, which can be significantly beneficial in understanding a market and its customers. Sometimes, however, companies may also use other methods for expansion. These methods involve growing through acquiring or merging with

Some companies produce a wide variety of products. Usually, these products differ from each other and cater to different market segments. In some cases, however, these products may act as a supplementary or complementary products to a company’s existing items. For most companies, producing these products may be crucial in providing customers with the best