as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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describe an example of a competitive strategy
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a competitive strategy is a plan of action designed to gain competitive advantage over other businesses. a competitive strategy example is a business launching a new product line with improved features that gives them an advantage over other businesses in the market. this strategy seeks to capitalize on a business's unique features, such as its patents and knowledge base, in order to gain a competitive edge in the market.
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