Which of the following are sources of competitive advantage that allow a firm to charge a price premium?
I.Quality.
II.Customer lock-in.
III.Innovative products.
IV.Rational price discipline.

Question

Quizplus · Accepted Answer

Quality, customer lock-in, innovative products, and rational price discipline all contribute to a firm's competitive advantage, allowing it to charge a price premium. Quality attracts and retains customers who are willing to pay more for superior products or services. Customer lock-in, through unique offerings or high switching costs, ensures steady revenue from existing customers. Innovative products can command higher prices due to their novelty and unique benefits. Rational price discipline, involving strategic pricing decisions, helps in maintaining a price level that maximizes profitability while keeping a competitive edge.

Which of the Following Are Sources of Competitive Advantage That