Abstract: Competitive advantage is at the core of strategic management research. But extant literatures look at competitive advantage from different perspectives and use its meaning differently, resulting in different unit of analysis. Looking at the construct from two interrelated perspectives, this paper reviews relevant representative literature, proposes product as the basic unit of analysis and provides relevant analytic logic. In this way, we hope to promote the integration of different perspectives of competitive advantage research in a new way.

Key words: competitive advantage, two interrelated perspectives, unit of analysis, connotation