To gain a competitive advantage in today's environment, a firm should develop and communicate which of the following components to consumers?
A) Brand
B) Price
C) Product features
D) A and B
E) A, B, and C

Question

Quizplus · Accepted Answer

A brand is a name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. Price is the amount of money charged for a good or service. Product features are the characteristics of a good or service that make it different from other goods or services. All three of these components are important for a firm to develop and communicate to consumers in order to gain a competitive advantage.

To Gain a Competitive Advantage in Today's Environment, a Firm