Question

blake wanted to offer high-quality meals in his restaurant. his motto was "the best darn meat and potatoes for miles around." the locals agreed that the food was good. they also agreed that if you decided to eat there, be prepared to wait. food preparation and service were slow. although blake’s motto stated the business’s competitive advantage, your accurate advice to blake would be

Answer 1

Blake wanted to offer high-quality meals in his restaurant. His motto was "the best darn meat and potatoes for miles around." the locals agreed that the food was good.

They also agreed that if you decided to eat there, be prepared to wait. food preparation and service were slow. although blake’s motto stated the business’s competitive advantage, your accurate advice to blake would be the winning competitive advantage is one that addresses quality and service.

A competitive advantage is what sets a company apart from its competitors, in the eyes of its consumers. These advantages allow a company to achieve and maintain superior margins, a better growth profile, or greater loyalty among current customers. A competitive advantage is often referred to as a “protective moat.”

There are three fundamental strategy options open to firms for attaining a competitive edge, according to Porter's Generic Strategies model. Cost leadership, differentiation, and focus are these.

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