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<br>"Competitive advantage" is a concept in economics that focuses on different factors that make a business in an industry more successful compared to its competitors. Students of economics often seek Economics Assignment Help while completing projects related to competitive advantage. Different businesses use the principles of competitive advantage while creating marketing strategies to gain market share.
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Slide1:Whatdoyoumeanbycompetitiveadvantage? "Competitiveadvantage"isaconceptineconomicsthatfocusesondifferentfactorsthatmakeabusinessinanindustrymoresuccessful comparedtoitscompetitors.Studentsofeconomicsoftenseek whilecompletingprojectsrelatedtocompetitive EconomicsAssignment Help advantage.Differentbusinessesusetheprinciplesofcompetitiveadvantagewhilecreatingmarketingstrategiestogainmarketshare.
Slide2:Formsofcompetitiveadvantage Accordingtotheexpertsfrom the herearethedifferentmethodsusingwhichabusinesscanhavea economicsassignmentwritingservice, • competitiveadvantage: • CostAdvantage:Whenthepriceofaproductofanorganizationislowerthanitsrivals,thenthecustomerisnaturallyinclinedto • buytheproductforwhichthereisthelowest cost • OfferAdvantage:Whenthefeaturesoftheproductarehigherincomparisontotherivalproducts • NicheAdvantage:Whenaproductcanfulfilltheneedsandwantsofthecustomermoreeffectivelythanitscompetitors.
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