Sunday, January 17, 2010

Competitive Advantage

Competitive advantage is a state, when a business develops a feature or more than one feature that allows it to do better than its competitors. Competitive advantage can be inexpensive power, price, highly trained and skilled personnel, new technologies etc. As Apples iPhone had a competitive advantage over all other phone of different companies because of its new 3G technology. So the sales went so high that it boomed the market. Correct me if I am wrong iPhone had other competitive advantages such as aesthetics and it is user friendly. But on the other hand Nokia had a price as competitive advantage because Nokia phones are cheap.