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.