Cost Advantage

Cost advantage refers to a situation where a company can produce goods or services at a lower cost than its competitors. This typically results from efficient operations, access to cheaper resources, or economies of scale. Having a cost advantage allows a business to offer competitive prices, increase profit margins, or invest more in innovation and growth. Essentially, it means the company can be more cost-effective in its production or service delivery, giving it an edge in the marketplace without necessarily compromising quality.