What are two broad choices when it comes to a new venture's competitive advantage?
A) Low price or high price
B) Customer service or high price
C) Cost advantage or non-cost-differentiation advantage
D) Trade secrets or cost advantage

Question

Quizplus · Accepted Answer

The two broad choices for a new venture's competitive advantage are cost advantage and non-cost-differentiation advantage. A cost advantage means that the company is able to produce and sell their product or service at a lower cost than competitors, giving them an edge in pricing. A non-cost-differentiation advantage means that the company offers unique features or benefits that set them apart from competitors, such as better quality, superior customer service, or a more innovative product. While both options can be effective, a cost advantage may be more sustainable in the long run as competitors will always try to replicate unique features and benefits, whereas it is more difficult to replicate a lower cost structure.

What Are Two Broad Choices When It Comes to a New