Porter's Competitive Advantage

Porter's Competitive Advantage refers to the attributes that allow a company to outperform its rivals. This can be achieved through cost leadership, where a company offers products at lower prices, or differentiation, where it provides unique features that justify higher prices. Essentially, it explains how businesses can achieve superior performance and gain a stronger market position by either being the most efficient provider or by offering exceptional value that competitors do not. Understanding this concept helps businesses identify their strengths and strategize effectively to enhance their market presence.