Competitive strategies are approaches that businesses use to gain an advantage over their rivals in the market. These strategies can include cost leadership, where a company aims to be the lowest-cost producer, or differentiation, where a company offers unique products or services that stand out from competitors. By effectively implementing these strategies, companies can attract more customers and increase their market share. Another common competitive strategy is focus, which involves targeting a specific market segment or niche. This allows businesses to tailor their offerings to meet the unique needs of that group. Companies like Apple and Walmart exemplify different competitive strategies, showcasing how diverse approaches can lead to success in various industries.