Higher profitability - Thanks to their taiwan phone code competitive advantage, companies can set higher prices, which can translate into higher profits.
Market Share - Companies with a competitive advantage can gain greater market share because customers are attracted to their unique features and offerings.
Brand Recognition – Having a competitive advantage can help businesses build brand awareness, which leads to increased customer loyalty and repeat business.
Barriers to entry - Competitive advantage can create barriers to entry for new competitors, as they may find it difficult to reproduce the unique characteristics that the company possesses.
Innovation (e.g. product-related) - Competitive advantage can drive innovations . It provides motivation and access to create new products or services. Companies constantly strive to improve their offering to maintain a competitive advantage.