A competitive advantage refers to

a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.

the added value given to a product beyond the functional benefits provided.

those characteristics of a product that make it superior to competitive substitutes.

the cluster of benefits that an organization promises customers to satisfy their needs.

Respuesta :

Answer:

a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.

Explanation:

The competitive advantage refers to the advantage gained by the company over its competitors who deals in the same types of business, the company is dealing with.

The competitive advantage can be in terms of quality, quantity, time, cost, an innovation that helps the company to sell its products more and more to gain a competitive edge and capture the maximum market share.