Question

Which of the following is a frequently used strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage?A. Striving to be the industry's low-cost provider, thereby aiming for a cost-based competitive advantageB. Outcompeting rivals on the basis of such differentiating features as higher quality, wider product selection, added performance, better service, more attractive styling, technological superiority, or unusually good value for the moneyB. Outcompeting rivals on the basis of such differentiating features as higher quality, wider product selection, added performance, better service, more attractive styling, technological superiority, or unusually good value for the moneyD. Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of satisfying the needs and tastes of buyers comprising the nicheE. Developing expertise and resource strengths that give the company competitive capabilities that rivals can't easily imitate or trump with capabilities of their own

Answer 1

Answer:

B. Outcompeting rivals on the basis of such differentiating features as higher quality, wider product selection, added performance, better service, more attractive styling, technological superiority, or unusually good value for the money

Explanation:

The correct statement above describes a strategy that focuses on many areas at the same time with the goal of increasing competitiveness across the firm.

Because the firm becomes competitive in many areas such as quality, amount of products offered, technology, and marketing, it is harder for competitors to outperform it in all of those aspects at the same time.

Even if the firm loses its grip in one area, it still remains competitive in other areas, and that is the very definition of a sustainable competitive advantage.