What is the difference between a competitive advantage and a sustainable competitive advantage?
Also question is, what is meant by sustainable competitive advantage?
Sustainable competitive advantages are company assets, attributes, or abilities that are difficult to duplicate or exceed; and provide a superior or favorable long term position over competitors.
Also Know, what are examples of competitive advantages? Examples of Competitive Advantage
- Access to natural resources that are restricted to competitors.
- Highly skilled labor.
- A unique geographic location.
- Access to new or proprietary technology.
- Ability to manufacture products at the lowest cost.
- Brand image recognition.
Hereof, what company has a sustainable competitive advantage?
Being recognized all over the world as a respected brand is a sustained competitive advantage that companies such as Virgin, Apple and Coca cola have used as leverage to hold the market sway for years. Virgin is a company that has used its brand name as leverage to break into new markets in completely new territories.
What are the three basic types of competitive advantage?
There are three different types of competitive advantages that companies can actually use. They are cost, product/service differentiation, and niche strategies.