Jake's Taxi Service is a new entrant to the taxi industry. It has achieved success by staking out a unique position in the industry. How did Jake's Taxi Service mostly likely achieve this position?
A) providing long-distance cab fares at a higher rate than competitors; servicing a larger area than competitors
B) providing long-distance cab fares at a lower rate than competitors; servicing a smaller area than competitors
C) providing long-distance cab fares at a higher rate than competitors; servicing the same area as competitors
D) providing long-distance cab fares at a lower rate than competitors; servicing the same area as competitors

Question

Quizplus · Accepted Answer

Jake's Taxi Service achieved a unique position in the industry by providing long-distance cab fares at a lower rate than competitors while servicing the same area as competitors. To stake out a unique position, a company must either perform the same activities as competitors in a way that is better for customers or perform different activities. Also, this company must provide an advantage for customers without trading the benefit with a disadvantage.

Jake's Taxi Service Is a New Entrant to the Taxi