If you were able to provide a product or service in a way that customers value more than what the competition is able to do, then you are creating a _____.
A) Treasure chest
B) Competitive advantage
C) Market position
D) Niche

Question

Quizplus · Accepted Answer

A competitive advantage is a unique advantage that a company has over its competitors, which allows it to generate higher sales or margins, acquire and retain more customers, or garner a larger market share. By providing a product or service that customers value more than what the competition is able to do, a company can create a competitive advantage for itself. This can come in the form of offering better quality, lower prices, faster delivery times, better customer service, or a unique value proposition that resonates with consumers.

If You Were Able to Provide a Product or Service