________ is created by providing a customer with greater value than a competitor relative to how much it costs to create the product or service.

Question

Quizplus · Accepted Answer

Competitive advantage is created when a business is able to provide more value to its customers than its competitors for the same cost. This can be achieved through offering a better quality product, a wider range of services, more efficient production processes, or any number of other factors that make the product or service more attractive to customers. By providing greater value than competitors, a business is able to gain a larger market share and generate more revenue.

________ Is Created by Providing a Customer with Greater Value