Gaining ________ Requires Delivering More Value and Satisfaction to Target

question 35

Multiple Choice

Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do.

• A) competitive advantage
• B) first-mover advantage
• C) economies of scale
• D) comparative advantage
• E) differentiation

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Definitions:

Reasonably Safe

A standard requiring that a product, environment, or practice should not pose significant harm to individuals when used or engaged in as intended, taking into account possible preventive measures.

Strictly Liable

Refers to the legal responsibility of a party for damages or loss, regardless of fault or negligence.

Reasonable Person

A reasonable person is a legal standard used to represent a hypothetical person who exercises average care, skill, and judgment in conduct, serving as a comparative standard in negligence cases.

Law of Torts

A component of civil law dealing with the compensation of victims for harm caused by someone’s negligence or intentional acts.