Competitive strategy refers to the plan a business uses to gain an advantage over its rivals in the market. This involves understanding the strengths and weaknesses of competitors, as well as identifying unique features of the company's products or services. By focusing on what makes them different, companies can attract more customers and increase their market share. A successful competitive strategy often includes elements like pricing, quality, and customer service. For example, a company like Apple may focus on premium quality and innovative design, while a budget brand might emphasize low prices. Ultimately, the goal is to create a sustainable position that allows the business to thrive in a competitive landscape.