A Firm Can Create Competitive Advantage by Responding Better Than

question 11

True/False

A firm can create competitive advantage by responding better than rivals to changes in its environment or by maintaining strategic differences from its rivals that customers accept

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Definitions:

Consumer Durable

Long-lasting goods purchased by consumers that are not consumed quickly and provide utility over time, such as appliances and vehicles.

Consumer Nondurable

Goods that are consumed quickly and must be purchased regularly, such as food, beverages, and toiletries.

Service

An intangible commodity that involves providing labor or expertise in exchange for payment.

Stock Market

A public market for the trading of company shares and derivatives at an agreed price; it is a key indicator of economic health.