What Is a Competitive Advantage

question 29

Multiple Choice

What is a competitive advantage?

• A)A product that an organisation'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 organisation'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:

Cognition

The mental action or process of acquiring knowledge and understanding through thought, experience, and the senses, encompassing processes such as memory, judgment, and problem-solving.

Reflexes

Involuntary responses or actions that are automatic and occur without conscious thought in reaction to specific stimuli.

Conservation Skills

The cognitive ability to understand that quantity remains the same despite changes in shape or appearance, typically developing in early childhood.

Developmental Stage

Phases through which an individual progresses from infancy to adulthood, each characterized by distinct physical, psychological, and cognitive changes.