Competitive Advantage: What Does it Involve?

Definition and explanation

Competitive advantage is the unique edge a company has over its rivals that allows it to outperform them in the market. It involves creating and delivering more value to customers than competitors, which can be achieved through pricing, quality, customer service, innovation, or other factors. This advantage can help companies increase market share, profitability, and overall success. Businesses must constantly work to maintain and strengthen their competitive advantage in order to stay ahead in the market.

Why it matters in sales

As Seth Godin would say, in a world where everyone is vying for attention, a sales organization needs to stand out like a purple cow. Competitive advantage is the secret sauce that gives a company a unique flavor, differentiating it from the plain vanilla of its competitors. By creating and delivering more value to customers, the purple cow company can milk the market for all it's worth, leaving its rivals mooing in envy. Maintaining and strengthening this advantage is crucial to ensure the milk keeps flowing, leading to increased market share, profitability, and success.

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