Competitive Advantage

Just because you have something the competitor does not have or do something the competitor does not do, does not mean that you have a competitive advantage over that competitor. The prospect actually has to care about that thing you have for it to give you an advantage. Some prospects may even see the extra thing as a disadvantage if they perceive that they are paying for something that they do not need. For example, a car with extra gadgetry may just have 1 more thing that could break down in the buyer’s eyes. For a feature to yield a competitive advantage it must have three elements. The competitor must not have it (or a reasonable facsimile); the prospect must care about the feature or its benefit, and the prospect must have the authority or influence to purchase the product. And this does not even include the fact of whether they have the money to buy or believe the feature is worth the cost. If you are missing any of those elements, then there is no competitive advantage.

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