(a). ‘Competitive advantage’ may be termed as anything which gives an organisation an edge over its rivals in the products it sells or the services it offers.

It can also refer to a situation where an organisation does something which its competitors cannot do or which they can do only at a disproportionate cost to them.

(b). ‘Corporate reputation’ is an image that describes an organisation for its achievement and what it stands for. It also serves as goodwill to the firm. Circumstances which can result in a company having positive reputation include integrity, good customer relations, reliability and quality of products/services. Good corporate reputation results in increased demand for company products.

(c). ‘Marketing mix’ refers to the particular combination of key variables under a company’s control that can be used to affect demand and gain competitive advantage. The key variables of the marketing mix may be listed as;