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A product’s degree of superiority and attractiveness to customers over similar existing products.
A competitive advantage is commonly achieved by offering consumers greater value, either by lowering prices or by supplying improved benefits and service that quantifies higher prices.
See also:
Market leader
Marketing advantage
Related terms
Continuing professional development (CPD), Positioning, Omnibus survey, Diagnostic trials, Porter's 'Five Forces', Click through rate (CTR), Marketing cost analysis, Gutter, Over the counter (OTC), Marketing strategy, Phase IV trials, Customer service, Key performance indicator (KPI), Brand image, Lifestyle drug,
