In general,firms create competitive advantage by offering a basic product at a premium price and/or a preferred product at a low price.

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Firms create competitive advantage by either offering a product at a lower price than their competitors or offering a unique product with features that differentiate it from competitors. Offering a basic product at a premium price would not usually result in a competitive advantage, as consumers would likely choose a cheaper alternative from a competitor.

In General,firms Create Competitive Advantage by Offering a Basic Product