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GCSE Business > 1.2.4 The Competitive Advantage > Flashcards

1.2.4 The Competitive Advantage Flashcards

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1
Q

What is a competitive advantage?

A

An advantage gained over competitors which enables the business to perform better than competitors

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2
Q

What different things can give you a competitive advantage?

A

Expertise of business
Location
Market research
Quality of products
Unique selling point
Wider product range
Better customer service
Stronger brand image
Better product features

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3
Q

What is SWOT analysis?

A

Used to identify an organisation’s strengths, weaknesses, opportunities and threat in relation to their competitors

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GCSE Business (7 decks)

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