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How Can a Firm Develop (Or Enhance)its Advantages in the Marketplace

question 31

Essay

How can a firm develop (or enhance)its advantages in the marketplace by having strong,positive interrelationships among its value chain activities and those of its suppliers and customers? Provide an example.


Definitions:

Development Time

The duration it takes from the initial idea conception of a product or service until its launch in the market.

Financial Resources

The available resources in the form of cash, liquid securities, and credit lines that a business can use for expenditure.

Kano Model

A theory for product development and customer satisfaction, which categorizes customer preferences into must-be, performance, and delighter attributes.

Customer Needs

The requirements and desires of consumers that they seek to fulfill when purchasing goods or services.

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