In Order to Be Considered Strategic Resources That Contribute Competitive

question 52

Multiple Choice

In order to be considered strategic resources that contribute competitive advantage, they must have several characteristics. Which of the following is not one of these?

• A)rare
• B)valuable
• C)inexpensive to imitate
• D)costly to substitute

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Definitions:

Buying Decision Process

A series of steps consumers go through, including need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.

Vendor Rating System

A method used by businesses to evaluate and rank suppliers based on performance criteria such as quality, delivery time, price, and compliance.

Postpurchase Behavior

The actions and reactions of consumers after buying and using a product, which can include product reviews, repeat purchases, or complaints.

Buying Committee

A group of individuals within an organization responsible for making purchase decisions, typically involving high-value products or services.