Gems Corp. is a leading jewelry brand that finds it hard to make as much profit as its competitors. In order to overcome this, the employees of Gems Corp. decide to work harder to provide unique value to customers and increase the sales of the company. After a year, it is able to make more profits than its competitors. This scenario best illustrates ________.

Question

Quizplus · Accepted Answer

The scenario described is an example of gaining a competitive advantage, which is when a company is able to outperform its competitors by providing unique value to customers. By working harder and providing unique value to customers, Gems Corp. was able to increase sales and make more profits than its competitors.

Gems Corp Is a Leading Jewelry Brand That Finds It Hard