The competitive advantage of a new venture is _______________.
A) rarely sustainable
B) a distinctive factor that gives the venture a clearly superior position relative to competitors
C) protected by a trustworthy team
D) most often a low price

Question

Quizplus · Accepted Answer

A competitive advantage is a factor that gives a venture a superior position relative to its competitors. This advantage could be in the form of a unique product or service, superior quality, lower costs, better customer service or distribution, strong brand recognition, or any other distinctive factor that sets the venture apart from its rivals. It's critical for new ventures to identify and leverage their competitive advantage as it helps them stand out in the market, attract customers, and build a loyal customer base. While competitive advantages may not always be sustainable, they can be used to establish a foothold in the market and make a name for the venture.

The Competitive Advantage of a New Venture Is _______________