With the terminology introduced in Chapter 7, a firm has a competitive advantage when:
A) It creates significant value for its customers by providing outstanding service
B) It has created added value
C) It manages its firm cost aggressively
D) It is able to negotiate harder than competitors
E) It appropriates

Question

Quizplus · Accepted Answer

A firm has a competitive advantage when it has created added value, meaning it offers something unique that is valued by customers and not easily replicated by competitors.

With the Terminology Introduced in Chapter 7, a Firm Has