The notion of competitive advantage means that:

a. A successful firm will stake out a position unique in some manner from its rivals

b. The advantage can be enjoyed only for a short period

c. A company manufactures products which are similar to those of its competitors.

d. An established firm focuses solely on developing a low-price competitive advantage

Question

Business

Arianna Irwin

8 May, 09:51

The notion of competitive advantage means that:

a. A successful firm will stake out a position unique in some manner from its rivals

b. The advantage can be enjoyed only for a short period

c. A company manufactures products which are similar to those of its competitors.

d. An established firm focuses solely on developing a low-price competitive advantage

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Answers (1)

Know the Answer?

Dean · Answer 1

The correct answer is A. A successful firm will stake out a position unique in some manner from its rivals.

Explanation:

A competitive advantage is any characteristic of a company, country or person that differentiates it from others by placing it in a superior relative position to compete. That is, any attribute that makes it more competitive than the others.

The attributes that contribute to having a comparative advantage are innumerable. But we can cite as an example the advantageous access to natural resources (such as high-grade minerals or low-cost energy sources), highly skilled labor, geographical location or high barriers to entry, which can be enhanced if we have a product that is hardly imitable Or we have a great brand.