Define and Elaborate on Competitive Advantage

question 44

Essay

Define and elaborate on competitive advantage.

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Definitions:

Trade Promotions

Marketing activities intended to increase demand for products by offering incentives to retailers and distributors.

Promotion Period

A specific timeframe during which marketing strategies are employed to increase awareness and sales of a product or service.

Lot Size

The quantity of a particular item that is to be manufactured or purchased in a single batch or order.

Bullwhip Effect

The phenomenon in supply chains where small variations in demand at the retail level cause progressively larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.