According to Michael Porter, to Have a Competitive Advantage, a Company

question 105

Multiple Choice

According to Michael Porter, to have a competitive advantage, a company must ultimately be able to give customers _______________.

• A) the best possible product
• B) the best possible service
• C) the best possible price
• D) superior value for their money
• E) everything they want

---

Definitions:

Elasticity Of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with higher elasticity indicating greater responsiveness.

Gallons

A unit of volume for liquid measure equal to four quarts, used in the US customary and British imperial systems.

Quarts

A unit of liquid volume measurement in the United States, equal to a quarter of a gallon or approximately 0.946 liters.

Price Elasticity

Measures how the quantity demanded of a good responds to a change in price, indicating the sensitivity of demand to price changes.