Which term refers to any factors that allow a firm to differentiate its product or service from those of its competitors to increase market share?
A) functional strategy
B) competitive advantage
C) corporate strategy
D) related diversification

Question

Quizplus · Accepted Answer

A competitive advantage refers to the factors that allow a firm to differentiate its product or service from competitors to gain market share. Managers aim to achieve competitive advantages for each of their businesses through cost leadership, differentiation, and focus.

Which Term Refers to Any Factors That Allow a Firm