Competitive Advantage

An advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher price (Kotler and Armstrong).

A competitive advantage is the result of matching core competency to opportunities in the marketplace. 

A competitive advantage is good, a sustainable competitive advantage is better.  A Sustainable Competitive Advantage is the fundamental basis of above-average performance in the long run (Porter).

An advantage is sustainable when the competition cannot replicate it. Some difficult to replicate attributes include...

quality education, unique or extensive training  and good grades
related previous work experience
previous life experiences which can be meaningfully applied to your objective and performance

well developed and highly polished skills

 

maturity and poise

At this point in the plan, you will need to compare your personal attributes to the attributes of the competition, in light of the strengths, weaknesses, opportunities and threats to ascertain areas which might be exploited as a competitive or a sustainable competitive advantage.
       

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