Competitive advantage is: Easily duplicated by competitors Having a super idea The aggregation of factors that sets the small business apart from its competitors and gives it a unique position in the market None of the above

Question

Business

Adam Hoover

15 September, 10:54

Competitive advantage is: Easily duplicated by competitors Having a super idea The aggregation of factors that sets the small business apart from its competitors and gives it a unique position in the market None of the above

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Answers (1)

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Jaden Gibson · Answer 1

The aggregation of factors that sets the small business apart from its competitors and gives it a unique position in the market.

Explanation:

Competitive advantage is the edge in the market a business has over its competition resulting from offering consumers a better value, be it by offering lower prices on equivalent services and products or by providing products or services of a better quality than its competitors justifying higher prices.

The answer choice that better fits within the definition above is "The aggregation of factors that sets the small business apart from its competitors and gives it a unique position in the market".