What Is a Competitive Advantage

question 109

Multiple Choice

What is a competitive advantage?

• A) A product that an organization's customers place a lesser value on than similar offerings from a competitor.
• B) A feature of a product or service on which customers place a lesser value than they do on similar offerings from a supplier.
• C) A service that an organization's customers place a lesser value on than similar offerings from a supplier.
• D) A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors.

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Definitions:

Behavioralists

Researchers or theorists who study the impact of psychology on the decision-making processes of individuals, particularly in economic contexts.

Sherman Act

A landmark U.S. antitrust law enacted in 1890 aimed at promoting fair competition for the benefit of consumers, by prohibiting monopolistic practices.

Conglomerate Mergers

A type of merger between companies that operate in unrelated business activities.

Horizontal Mergers

Mergers between companies that operate in the same industry, leading to consolidation and potentially reducing competition.