What term refers to outperforming competitors or the industry over a prolonged period?

The term that refers to outperforming competitors or the industry over a prolonged period is Sustainable Competitive Advantage. This concept emphasizes not just achieving success in the short term, but maintaining that level of success in a way that is difficult for competitors to replicate. A sustainable competitive advantage allows a company to continue to thrive in the marketplace by leveraging unique resources, capabilities, or positioning that provide enduring value to customers.

When a business has a sustainable competitive advantage, it can create barriers to entry for potential competitors, preserve profitability, and foster a loyal customer base over time. This stability differentiates it from simply having a competitive advantage, which might be temporary or easily challenged.

The other terms do not capture the same enduring aspect. Competitive disadvantage refers to a scenario where a company performs worse than its competitors. Competitive advantage indicates a company's superior performance relative to others, but doesn’t necessarily imply that this advantage is sustainable over time. Competitive parity describes a state where a company is performing at the same level as its competitors and does not highlight any significant long-term advantages. Thus, Sustainable Competitive Advantage is the term that specifically highlights the ability to outperform competition consistently over time.