A firm can gain competitive advantage through a marketing strategy of either ________ or ________.

A) product differentiation; globalization
B) curve effects; process innovation
C) cost leadership; differentiation
D) integration; standardization

Competitive Advantage

The favorable position a business achieves through offering superior value to its customers as compared to competitors, often leading to greater sales or margins.

Cost Leadership

A strategic approach where a company aims to become the lowest-cost producer in its industry, often leading to competitive pricing.

Product Differentiation

A strategy that businesses use to highlight the unique features and benefits of their products or services, distinguishing them from competitors in the market.