Characteristics
– Unique Selling Proposition (USP): A feature or benefit that makes a product or service stand out from competitors.
– Cost Leadership: The ability to produce goods or services at a lower cost than competitors, allowing for competitive pricing.
– Differentiation: Offering unique products or services that are perceived as superior by customers.
– Customer Loyalty: A strong bond with customers that leads to repeat business and referrals.
– Brand Recognition: The extent to which consumers can identify a brand by its attributes, leading to trust and preference.

Examples
– Apple Inc.: Known for its innovative technology and strong brand loyalty, Apple has a competitive advantage in the consumer electronics market.
– Walmart: By leveraging economies of scale, Walmart maintains cost leadership, allowing it to offer lower prices than many competitors.
– Tesla: Tesla differentiates itself in the automotive industry with its cutting-edge electric vehicle technology and strong brand image.
– Starbucks: The company has built a loyal customer base through its unique coffee experience and strong brand identity, giving it an edge over other coffee shops.
– Nike: With its strong brand recognition and innovative products, Nike maintains a competitive advantage in the athletic apparel market.