For Many Years, Southwest Airlines Distinguished Itself as the Low-Cost

question 46

Multiple Choice

For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that

• A) no single strategy is likely to be sufficient to build a sustainable competitive advantage.
• B) situation analysis is a continuous process.
• C) customers rarely remain loyal to companies.
• D) product excellence is the only true source of a sustainable competitive advantage.
• E) innovation is pointless because competitors will develop copycat offerings.

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Definitions:

Empiricism

The philosophy that knowledge comes primarily from sensory experience, emphasizing the role of observation and experimentation in science.

Theory

A systematic set of principles or explanation for understanding, predicting, or controlling some aspect of the natural or social world.

Psychometrics

The scientific study of the measurement of human abilities, attitudes, and traits through the development and application of psychological tests.

Psychotherapy

A form of therapy aimed at addressing mental health issues by talking with a psychologist, psychiatrist, or another mental health provider.