A Competitive Advantage Refers to

question 195

Multiple Choice

A competitive advantage refers to

• A) the cluster of benefits that an organization promises customers to satisfy their needs.
• B) those characteristics of a product that make it superior to competitive substitutes.
• C) a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
• D) actions taken by a firm with the sole intent of putting a competitor out of business.
• E) the added value given to a product beyond the functional benefits provided.

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Definitions:

Cross-cultural Study

Research that compares the cultural practices, products, or attitudes of two or more cultures to understand their similarities or differences.

Problem-solving Ability

The capacity or skill to identify, define, and find solutions for complex or challenging situations or questions.

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Falling in love is an intense emotional process where an individual develops strong affection and attachment towards another person.

Gender Differences

The distinctions in characteristics, behaviors, roles, and psychological traits attributed to males and females by society.