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Define the Cost Advantage Strategy and Its Characteristics

question 80

Essay

Define the cost advantage strategy and its characteristics.


Definitions:

Operating Business

The day-to-day activities involved in running a business, including management, production, and the provision of services.

Marketing Costs

The total expenses related to promoting and selling a product or service, including advertising, public relations, and promotional strategies.

Return on Investment

A performance measure used to evaluate the efficiency or profitability of an investment relative to its cost.

Entrepreneurial Venture

A new business enterprise that is initiated by an entrepreneur, often characterized by innovation, risk-taking, and growth potential.

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