A firm is said to gain a competitive advantage when it can
A) exceed its own previous performances.
B) provide products similar to its competitors, but at lower prices.
C) perform at the same level as that of its competitors.
D) minimize the difference between value creation and cost.

Question

Quizplus · Accepted Answer

To gain a competitive advantage, a firm needs to provide either goods or services consumers value more highly than those of its competitors, or goods or services similar to the competitors' at a lower price.

A Firm Is Said to Gain a Competitive Advantage When