Answered: What are the competitive benefits of…

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

Related questions

Question

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What are the competitive benefits of Office 365? For example, Increases the organization’s revenue, Makes the product/service delivery efficient.

Expert Solution

Step 1

Competitive Advantage

Competitive advantage refers to all of the factors that enable a certain brand, product, or service to be more desirable and attractive to the customers as compared to the other competitors in the same field/ industry.
It is basically the distinction between nearly identical goods that distinguishes it from the competition. It also enables the brand to pursue higher sales tactics and earn greater revenues than rivals.
Apple is one of the best examples of this; as a leader in the mobile industry, it has retained its user base and consumer base despite competition in the smartphone market thanks to its proprietary ios technology.
In a nutshell, comparative advantage refers to a brand's, product's, or service's individuality.