Market power is gained as the firm develops the ability to save on its operations, avoid sourcing and market costs, improve product quality, possibly protect its technology from imitation by rivals, and potentially exploit underlying capabilities in the marketplace.

Question

Quizplus · Accepted Answer

Market power can be enhanced by operational efficiencies, cost advantages, improved product quality, protection of proprietary technology, and leveraging unique capabilities, all of which can provide competitive advantages in the marketplace.

Market Power Is Gained as the Firm Develops the Ability