According to the VRIN model, a company's resources must be valuable, uncommon, unique, and non-replaceable in order to give it a long-term competitive edge. However, a company's competitive advantage can also be influenced by other characteristics. For instance, a powerful brand can foster client loyalty and recognition, making it challenging for rivals to copy. Having a strong brand, according to Keller (2013), "can help to differentiate a product from its competitors, facilitate customer recognition and loyalty, and signify product quality and consistency" (p. 14). Intellectual property, such as patents and trademarks, can also give a company a competitive edge by preventing rivals from utilizing or replicating its ideas, inventions, or goods. Similar to this, technology tools like improved manufacturing techniques or software can give a business an advantage over rivals by enabling it to create goods and services more effectively, more affordably, or with higher quality (Teece et al., 1997).

References

Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533.

Keller, K. L. (2013). Strategic brand management: Building, measuring, and managing brand equity. Pearson Education Limited.

This is a discussion forum and I need reply for it with two or three refrerences?