Comparative advantages refer to the economic concept of determining what a company does best in comparison to others in its industry. This can be used to help make marketing decisions, as well as inform overall business strategies. When companies know their comparative advantages, they can better target their marketing efforts and focus on the areas where they are most likely to succeed. Additionally, comparative advantage can be used to choose which products or services to offer, as well as help set prices. By understanding their own strengths and weaknesses in relation to others, businesses can create a more solid foundation for long-term success.