Chapter 2 - Competitive Advantage - 9/9

Competitive advantage is when a firm is able to create more economic value than its rival or competitor firms. Economic value is simply defined as the difference between the benefits and the cost a customer received when purchasing a firm's products or services. When I think competitive I think competition, competitor, athlete, and the Nike! Nike partners with the top athletes in the sports industry and is known for their superior quality products and high end brand. According to Panos Mourdoukoutas of Forbes magazine, Nike's competitive advantage can be summed up into 5 categories - the company's brand, scale, scope, customization, and innovation. Nike has a well known and positive image amongst its consumers, its revenues almost double Adidas its closest competitor, it has a broad scope of product offerings in the sporting goods and apparel market, it allows its customers to customize all Nike gear, and the lead the industry in apparel and sporting equipment innovation and technology. It is safe to say that Nike has a significant competitive advantage over its competitors.

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 https://www.forbes.com/sites/panosmourdoukoutas/2014/09/28/how-nike-wins/#533a2b6f3791



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