While There Are Many Routes to Competitive Advantage,the Two Biggest

question 3

Multiple Choice

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

• 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 competitive advantage linked to low costs or differentiation.
• C) whether a company can achieve lower costs than rivals and whether the company is pursuing the industry's sales and market share leader role.
• D) finding effective and efficient ways to strengthen the company's competitive assets and to reduce its competitive liabilities.
• E) getting in the best strategic group and establishing a dominating role.

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Definitions:

Awareness

The state or ability to perceive, feel, or be conscious of events, objects, or sensory patterns, often used in the context of consciousness and attention.

Basic Psychology

The study of fundamental principles, theories, and research methods in psychology.

Practical Application

The use of theoretical knowledge in a real-world context, demonstrating how concepts or techniques can be effectively employed.

Basic Psychology

The study of fundamental principles, theories, and research methods in psychology, focusing on understanding human behavior and mental processes.