A firm's ________ is really no more than a socially complex relationship between a firm and its customers and can serve as a basis for product differentiation.
A) location
B) reputation
C) consumer marketing
D) architectural competence

Question

Quizplus · Accepted Answer

A firm's reputation refers to the collective perceptions of its customers, employees, suppliers, and other stakeholders. It is a deeply ingrained perception in the minds of stakeholders about a company's past actions and its ability to deliver on its promises. In this sense, reputation is a socially complex relationship that can serve as a basis for product differentiation. By building a strong reputation, a firm can differentiate itself from its competitors and create a competitive advantage that is difficult to imitate.

A Firm's ________ Is Really No More Than a Socially