Scenario 1-1. Larry Linsuine is thinking of marketing a new idea he has been using. After years of experience as a deer hunter, he has perfected a tree stand that gives him an added advantage in deer hunting. He calls his new tree stand The Tree Hugger. He has now begun the process of manufacturing his tree stands with 20 employees working out of his garage. His life savings have provided the equity for his operation.
-In Scenario 1-1, what advantage will Larry have over his competition with his new product?
A) competitive advantage
B) comparative advantage
C) qualitative advantage
D) financial advantage

Question

Quizplus · Accepted Answer

Larry Linsuine's advantage over his competition with his new product, The Tree Hugger, stems from his unique offering in the market, which is a result of his years of experience and perfection of the tree stand for deer hunting. This creates a competitive advantage because it differentiates his product from others in the market, potentially making it more desirable to consumers looking for effective deer hunting solutions.