What are a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition?
A) comparative advantage
B) niche advantage
C) relative advantage
D) competitive advantage

Question

Quizplus · Accepted Answer

Competitive advantage refers to a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition. This advantage helps the company to differentiate itself from its competitors and gain market share. Comparative advantage refers to the ability of a company to produce goods or services at a lower cost than its competitors. Niche advantage refers to the ability to serve a specific segment of the market better than the competition. Relative advantage refers to the perceived superiority of a product or service over that of the competition in the eyes of the consumer. However, none of these options fully capture the unique features and perceived superiority that make up competitive advantage.

What Are a Set of Unique Features of a Company