What is competitive strategy? Explain its various dimension

Competitive strategy is a crucial concept in the field of business management and strategic planning. It refers to the long-term plan and approach that an organization adopts to gain a sustainable advantage over its competitors in a given market or industry. A well-defined competitive strategy helps a company position itself effectively, allocate resources efficiently, and respond to market dynamics to achieve its objectives. Competitive strategy is a multifaceted concept with various dimensions that are critical for understanding and implementing it effectively.

The various dimensions of competitive strategy can be summarized as follows:

1. Cost Leadership Strategy:

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