Competitive advantage refers to the unique attributes or resources that allow a company to outperform its competitors. This can include factors such as superior technology, skilled workforce, or strong brand reputation. By leveraging these advantages, a business can attract more customers, increase market share, and achieve higher profitability. Companies often seek to maintain their competitive advantage through innovation and strategic planning. For example, Apple uses its design and ecosystem to differentiate itself in the tech market. Similarly, Walmart benefits from its efficient supply chain, enabling lower prices and attracting cost-conscious consumers.