A firm's ________ relates to its ability to create value for customers (V) while containing the cost to do so (C).
A) strategic position
B) industry effects
C) advantage of the marketplace
D) industry analysis

Question

Quizplus · Accepted Answer

A firm's strategic position relates to its ability to create value for customers (V) while containing the cost to do so (C). Competitive advantage flows to the firm that is able to create as large a gap as possible between the value the firm's product or service generates and the cost required to produce it (V minus C).

A Firm's ________ Relates to Its Ability to Create Value