When a Company Succeeds in Creating More Value for Customers

question 30

True/False

When a company succeeds in creating more value for customers than its competitors do,that company is said to enjoy competitive advantage.

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Definitions:

Optimal Experiences

Essentially refers to situations or activities that provide the highest level or peak of satisfaction and engagement to an individual.

Threat of Substitutes

The pressure a company or product faces from alternative products or services that can perform similar functions, potentially reducing demand for the original.

Music Industry

The sector of the economy that is responsible for the production, distribution, and promotion of music and its related products and services.

Newspaper Industry

The sector of the economy involved in the production and distribution of daily or weekly publications containing news, information, and advertising.