The Ability to Offer Greater Value Than One's Competitors Is

question 97

Multiple Choice

The ability to offer greater value than one's competitors is called which of the following?

• A) Quality
• B) Reduction in the price charged
• C) Competitive advantage
• D) Qualitative advantage

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Definitions:

Just-In-Time Performance

is an inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Low Bid Purchasing

A procurement strategy where contracts are awarded to the supplier offering the lowest price for goods or services, often utilized in public sector procurement.

Postindustrial Societies

Societies characterized by an economy where the service sector produces more wealth than the manufacturing sector.