Competitive advantage can be defined as:
A) the ability of customers to properly perform and co-produce their part of a service.
B) a firm's ability to achieve market and financial superiority over its competitors.
C) a pattern or plan that integrates an organization's major goals, policies, and action sequences into a cohesive whole.
D) a firm's ability to commercialize a device, method, or idea that differs from existing norms.

Question

Quizplus · Accepted Answer

Competitive advantage is a firm's ability to outcompete its rivals in the marketplace and achieve superior financial performance. This advantage can come from a variety of factors such as cost leadership, differentiation, or a unique product or service offering. Option A refers to customer co-production, Option C refers to strategic planning, and Option D refers to innovation or invention. While these are important aspects of a successful business, they do not fully encompass the concept of competitive advantage.

Competitive Advantage Can Be Defined As