Which of the following is a true statement about competitive advantages?

A) Tangible resources are more important than intangible resources.
B) Tangible resources are more difficult to obtain than intangible resources.
C) Valuable and substitutable resources increase long-term customer loyalty rates.
D) Valuable and rare resources that are easily substituted provide short-term advantages.

Tangible Resources

Physical and material assets owned by a business, such as buildings, machinery, and inventory.

Intangible Resources

Non-physical assets owned by a business, such as intellectual property, brand reputation, and customer relationships.

Substitutable Resources

Resources in a firm that can be replaced by other resources to perform the same function, affecting competitive advantage and strategic planning.