Match the Term with Its Definition

question 29

Multiple Choice

Match the term with its definition:
-minaret

• A)a tower on a mosque
• B)a prayer niche oriented toward Mecca
• C)a form of abstract pattern
• D)a cube-shaped building in Mecca
• E)a kind of Arabic script
• F)direction of Mecca
• G)pulpit

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Definitions:

Competitive Advantage

The favorable position a business achieves through offering superior value to its customers as compared to competitors, often leading to greater sales or margins.

Cost Leadership

A strategic approach where a company aims to become the lowest-cost producer in its industry, often leading to competitive pricing.

Product Differentiation

A strategy that businesses use to highlight the unique features and benefits of their products or services, distinguishing them from competitors in the market.

Competitive Scope

Refers to the broadness of a company's target market within its industry, ranging from niche to global markets.