If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally
A) execute an integrated cost-leadership and differentiation position.
B) copy the strategies of other firms through competitive benchmarking.
C) provide goods or services similar to its competitors at higher prices.
D) stake out a unique position within the industry.

Question

Quizplus · Accepted Answer

The key to successful strategy is to combine a set of activities to stake out a unique position within an industry. Competitive advantage has to come from performing different activities or performing the same activities differently than rivals are doing. Competing to be similar but just a bit better than a competitor is likely to be a recipe for cutthroat competition and low profit potential.

If a Company Wants to Gain a Competitive Advantage in a Highly