Question

strategic management course , need quick answer

18) While there are many routes to competitive advantage, they all involve A) delivering effective and efficient ways to strengthen the company's competitive assets and to reduce its competitive liabilities B) providing superior value to a broad or narrow market of buyers in ways rivals cannot readily match. C) delivering products that build a brand name D) getting in the best strategic group and dominating it. E) achieving lower costs than rivals and becoming the industry's sales and market share leader image that buyers trust.

Answer 1

18)

While there are many routes to competitive advantage, they all involve

Correct answer is B) providing superior value to a brad or narrow market of buyers in ways rivals cannot readily match.

A company achieves competitive advantage whenever it has some type of edge over rivals in attracting buyers and coping with competitive forces. There are many routes to competitive advantage, but they all involve giving buyers what they perceive as superior value compared to the offerings of rival sellers. Superior value can mean a good product at a lower price; a superior product that is worth paying more for; or a best-value offering that represents an attractive combination of price, features, quality, service, and other appealing attributes. Delivering superior value-whatever form it takes-nearly always requires performing value chain activities differently than rivals and building competencies and resource capabilities that are not readily matched.

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