How Apple's Competitive Advantage Sets Itself Apart This is why the savvy tech brand is crushing the competition.
By Phil Town
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When a company has a strong competitive advantage, not only will its investors have more confidence in the product and compay but it will have significant longevity.
In this video, Entrepreneur Network partner Phil Town discusses the concept of a "moat," or a type of intrinsic characteristic that can't be separated from the company, giving it protection. Similar to a medieval moat that was used to block out enemies from invading a castle, the concept indicates an advantage over those on the outside. In business, the concept can be a great tactic for developing a barrier to the threat of competition.
Town breaks down how Apple's moat makes it a particularly worthy example. Apple has incredible brand recognition while also leading the tech industry with its innovative technology. Together, Apple stays ahead pack and maintains a long-running relationship with its customers. Add to that Apple's superb management team that instills trust with its base, as well as dynamite company culture, and Apple's moat is rock-solid.
In your future investing endeavors, it can be helpful to look out for similar companies with a moat like Apple's.
Click play to hear more about why maintaining a moat can be incredibly important to a company.
Related: Here's Why You Should Always Pay Yourself First
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