qualitative advantage - Marketing activities and tools, such as product, packaging, distribution, services, and the terms under which they are offered, are susceptible to qualitative change. By equipping these tools with superior or unique quality compared to competitors and adapting them to buyer preferences, a company can achieve a qualitative advantage that enables it to exercise greater bargaining power with the buyer.
Price advantage - The basis for achieving competitive advantage is the use of marketing tools and activities that are directly related to the material needs of buyers. To achieve this, a company must set prices at a level lower than those of its competitors and use other tools, such as promotion, at a level higher than those practiced by its competitors.
Informational advantage - is a process of creating and communicating information that can serve two functions. The first is a service function in the firm's process of achieving competitive advantages related to quality and price. In this function, the firm informs buyers of products and services of superior or different quality than those offered by competitors. The firm also communicates lower prices and greater or different benefits that buyers can achieve by choosing its offerings. The second function of informational advantage is to autonomously shape buyers' preferences more effectively than the competition, at a given quality and price level. It is this function that aims to elicit buyers' acceptance of an offering at a given quality and price level, in order to orient buyers' preferences towards the firm's offering. In this case, the firm acts to change buyers' preferences and convince them to choose its products or services.