Asked by Yahya Jabado on Jul 05, 2024
Verified
When a firm possesses capabilities that allow it to serve customers' needs better than the competition, the firm is said to have a:
A) resource advantage.
B) competitive advantage.
C) value-based advantage.
D) marketing advantage.
E) relative advantage.
Competitive Advantage
An advantage or favorable situation that places a business ahead of its competition in the market.
Resource Advantage
A competitive strategy theory focusing on how organizations can achieve higher performance by acquiring and efficiently using resources to provide greater value than competitors.
- Comprehend the principle of market orientation and its significance for the success of an organization.
Verified Answer
ZK
Zybrea KnightJul 06, 2024
Final Answer :
B
Explanation :
A competitive advantage is when a firm can serve customers' needs better than the competition, often due to superior resources, capabilities, or strategies.
Learning Objectives
- Comprehend the principle of market orientation and its significance for the success of an organization.
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