Competitive advantage is described as a condition that would place a particular company in a superior position compared to the rest of the companies in the market in that industry. Competitive advantage allows a company to generate greater value for the business, which allows it to generate higher sales volume and retain more competitors compared to its competitors. This gives the company an edge over its competitors. There can be different types of competitive advantages. Some of these include customer retention rate and product offerings that are innovative new products compared to their competitors, among others. There are two main types of competitive advantage: • Comparative advantage: This is essentially the company's ability to produce goods and services at a lower cost than their competitors. this would mean that the company would be able to sell its products at a lower price than its competitors and would therefore be able to maintain a higher margin on sales. • Differential advantage: this is when a company's products or services differ from those of its competitor...