Your competitive advantage must be something sustainable, something that would allow you to survive for a more extended time. You must recognize this as the act, not only on the paper in your marketing plan.
Maybe you think your competitive advantage is because you sell your products and services at a lower price. However, this is not an advantage if it is a temporary solution to attract new customers because your business can’t continue to sell at that price.
However, suppose you have an innovation in the manufacturing process and appropriate cost management. In that case, you can have a lower cost than the competition, and therefore, you can sell your products at a lower price. That is a competitive advantage for your business.Read More about Your Competitive Advantage – Is it Strong Enough?