- advantage
- advantage ad‧van‧tage [ədˈvɑːntɪdʒ ǁ ədˈvæn-] noun [countable, uncountable]something that helps you to be better or more successful than others:
• America's lead in aerospace is one of its most important competitive advantages.
• Government subsidies give these industries an unfair advantage.
advantage over• It has an advantage over foreign manufacturers because of its flexible workforce.
ˌabsolute adˈvantage [countable]ECONOMICS the advantage that one country has over another because it can make a product more cheaply:• UK growth rates were below those of Europe and as a result an absolute advantage was turned into an absolute disadvantage.
comˌparative adˈvantage1. [countable] ECONOMICS the advantage that one country has over another because it is better at making a particular product:• America's comparative advantage in high technology
2. [uncountable] ECONOMICS the idea that countries should specialize in making the products that they are particularly good at making, and should import products that other countries are better at making. People who support this idea believe that it is the best way for all countries to become wealthier:• Removing quotas allows comparative advantage to enrich the world.
comˌpetitive adˈvantage[countable] COMMERCE an advantage that makes a company more able to succeed in competing with others:• the product and marketing mix that gives the company a competitive advantage over its rivals
ˌfirst-mover adˈvantage [uncountable]MARKETING the advantage a company has by being the first to sell a new product or provide a new service, when there is no competition from other companiesˌlast-mover adˈvantage [uncountable]MARKETING the advantage a company gains by being one of the last to sell a particular product or provide a particular service, when technology has improved and costs are very lowˌsecond-mover adˈvantage [uncountable]MARKETING the advantage a company gains by not being the first to sell a new product or provide a new service, when research and development costs (= the cost of studying new ideas and planning new products ) are lower and people have learned about the market from the experience of other companies* * *
advantage UK US /ədˈvɑːntɪdʒ/ noun [C or U]► a good feature that makes something better than similar things: have/get/gain an advantage »Smaller businesses often have an advantage in the area of customer relations.
advantage over sb »Neither company appears to have a particular technological advantage over the other.
advantage for sb »There are advantages for both employers and employees in flexible working hours.
the advantages of sth »What are the advantages and disadvantages of outsourcing?
the advantages of doing sth »Some firms may find that the advantages of using free software outweigh the disadvantages.
»The British ferry operator complained that its French rivals had an unfair advantage because of government aid.
a big/huge/major advantage »Online advertising can have some major advantages.
a great/important/significant advantage »Foreign domestic investment brings important advantages through new technologies and enhanced access to overseas markets.
a clear/definite/distinct advantage »There can be distinct advantages in having a dominant individual presence in the boardroom.
→ See also ABSOLUTE ADVANTAGE(Cf. ↑absolute advantage), COMPARATIVE ADVANTAGE(Cf. ↑comparative advantage), COMPETITIVE ADVANTAGE(Cf. ↑competitive advantage), FIRST-MOVER ADVANTAGE(Cf. ↑first-mover advantage), LAST-MOVER ADVANTAGE(Cf. ↑last-mover advantage), SECOND-MOVER ADVANTAGE(Cf. ↑second-mover advantage)
Financial and business terms. 2012.
