A firm has a competitive advantage when it is able to outperform the competition,providing customers with a desired benefit the competition does not.

Question

Quizplus · Accepted Answer

A competitive advantage is defined as a unique advantage that sets a company apart from its competitors, allowing it to outperform them in a particular area such as quality, price, service, or innovation. This advantage provides customers with a desired benefit that the competition does not offer. Therefore, the statement is true.

A Firm Has a Competitive Advantage When It Is Able