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.

Understand the steps and importance of the scientific method in human development research.

Recognize the role of empirical evidence in developing and supporting hypotheses.

Discern different research designs and methodologies in the study of human development.

Identify the significance of hypotheses in scientific research.

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Definitions:

Profits

The financial gain obtained after subtracting expenses from revenue.

Patent

A government-granted exclusive right to an inventor, allowing them to prevent others from making, using, or selling their invention for a certain period.

Takeover Bid

In corporate law, the offer to buy the voting stock of a corporation.