Constant improvement of the current product lines and always offering additional features that are better than competitors is known as which barrier to competition?
A) Control over key resources.
B) Obtaining a legal monopoly.
C) Feature contribution.
D) Innovation.
E) None of the above.

Question

Quizplus · Accepted Answer

Constantly improving and adding better features than competitors is known as innovation. It helps to create a competitive advantage and acts as a barrier to competition by making it difficult for competitors to match the quality and features of the product. Control over key resources and obtaining a legal monopoly are other barriers to competition, but they are not applicable in this scenario. Feature contribution is not a commonly used term in the context of barriers to competition.

Constant Improvement of the Current Product Lines and Always Offering