The term is defined as a theoretical approach and practical methodology that examines the functioning of a business in terms of whether a product or service simultaneously meets the criteria of being rare, durable, non substitutable, and valuable.

Competitive advantage

Explanation:

Competitive advantage gather the whole characteristics of a product against another product or the whole market, if you want to know how competitive your product is, you need to compare it with another similar products and the general market and include something different in your product to be competitive these can be price, quality, ad campaign and so on.