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Competitive advantage refers to the attributes and resources of a company that enable it to outperform its competitors. It can include factors such as lower costs, superior quality, innovative products or services, superior customer service, and strong brand recognition. Businesses with a strong competitive advantage are better positioned to succeed in the marketplace and to sustain their success over time. By leveraging their competitive advantage, companies can increase their market share, improve profitability, and build a loyal customer base.
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