How is competitive advantage established?
A)by providing more customer products than one's competitors
B)by providing better quality than one's competitors
C)by providing greater customer value for less cost than one's competitors
D)by providing greater efficiencies than one's competitors

Question

Quizplus · Accepted Answer

Competitive advantage is established by providing greater customer value for less cost than one's competitors. This can be achieved through various strategies such as offering unique products, reducing production costs, improving efficiency, or enhancing customer experience. Ultimately, it is the ability to offer superior value to customers at a lower cost that enables a company to gain a competitive advantage over its rivals.

How Is Competitive Advantage Established