While There Are Many Routes to Competitive Advantage, the Two

question 98

Multiple Choice

While there are many routes to competitive advantage, the two biggest factors that distinguish one competitive strategy from another are

• A)whether a company can build a brand name and an image that buyers trust.
• B)whether a company's target market is broad or narrow and whether the company is pursuing a low-cost or differentiation strategy.
• C)whether a company can achieve lower costs than rivals and whether the company is pursuing the industry's sales and market share leader's role.
• D)whether a company can offer the lowest possible prices and whether the company can get the best suppliers in the market.
• E)whether a company's overall costs are lower than competitors' and whether the company can achieve strong product differentiation.

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Definitions:

Essential Terms

Critical conditions or clauses within a contract that define the agreement's fundamental obligations.

Online Auction

A digital marketplace where items are sold to the highest bidder through a timed bidding process.

Effective Offer

A proposal that meets all legal requirements and is presented in a manner that a reasonable person would understand its terms, triggering a potential contract.

Good Faith

The honest intention to act without taking an unfair advantage over another party in a transaction.