Asked by Arshdeep Singh on Sep 26, 2024
According to Porter , which of these is the ability to provide unique and superior value to the buyer in terms of product quality, special features, or after-sales service?
A) Competitive scope
B) Differentiation
C) Market segmentation
D) Economies of scale
E) Cost leadership
Product Quality
Refers to the degree to which a product or service meets or exceeds customer expectations.
Special Features
Unique or distinguishing attributes or aspects of a product, service, or entity that provide additional value.
Differentiation
A strategy businesses use to make their products or services stand out from competitors', often through unique features or superior quality.
- Recognize the pivotal role of competitive advantage in the formulation of business strategy.
Learning Objectives
- Recognize the pivotal role of competitive advantage in the formulation of business strategy.
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