Which one of the following is necessary if a firm is to maintain a competitive advantage?
A) winning consistently over the short term in a competitive situation
B) charging a higher price than what competitors charge
C) reproducing the successful actions of competitors
D) providing products and services of a superior value than those of competitors

Question

Quizplus · Accepted Answer

Providing products and services of superior value than those of competitors is necessary to maintain a competitive advantage. This enhances the perceived value of the firm's products and services and enables the firm to attract and retain customers, which is crucial to maintaining a competitive advantage. Winning consistently over the short term in a competitive situation and charging a higher price than competitors are not sustainable ways to maintain a competitive advantage. Reproducing the successful actions of competitors may lead to temporary success, but it does not necessarily result in a sustainable competitive advantage.

Which One of the Following Is Necessary If a Firm