A Competitive Advantage Refers to

question 195

Multiple Choice

A competitive advantage refers to

• A) the cluster of benefits that an organization promises customers to satisfy their needs.
• B) those characteristics of a product that make it superior to competitive substitutes.
• C) a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
• D) actions taken by a firm with the sole intent of putting a competitor out of business.
• E) the added value given to a product beyond the functional benefits provided.

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Definitions:

Negative Reinforcement

A process in operant conditioning where a response is strengthened by stopping, removing, or avoiding a negative outcome or aversive stimulus.

Classical Conditioning

A continual pairing of two stimuli in a learning scenario leads to a response that while at first produced by the second stimulus, is later produced by the first stimulus alone.

Self-Modification

The ability or process of changing oneself or one's behavior through personal effort or intervention.

Positive Reinforcer

A stimulus that, when presented after a behavior, increases the likelihood of that behavior occurring again in the future.