Competitive advantage can be created by offering a lower price for a product that is similar to the competition's product.

Question

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By offering a lower price, a company can attract customers who are price-sensitive and gain a competitive advantage over competitors who offer similar products at a higher price. However, offering a lower price is not the only way to create competitive advantage. Companies can also differentiate their products through quality, features, branding, customer service, or other factors.

Competitive Advantage Can Be Created by Offering a Lower Price