Answer:
Please find the detailed answer as follows:
Explanation:
After reviewing Digby's current strategy, top five sources of competitive advantage for digby are as follows:
- Increase demand through TQM initiatives
.
- Offer attractive credit terms
.
- Seek excellent product designs, high awareness, and high accessibility
.
- Seek high plant utilization, even if it risks occasional small stockouts
.
- Reduce cost of goods through TQM initiative.
Related concepts to understand the problem.
Competitive advantage. A competitive advantage is an improvement over competitors gained by contribuiting consumers greater value.
<span>As a result of patent laws, a company cannot make its product illegally similar to a competitor's already established product. In order for a company to 'own' their product, they must file for a patent. A patent is the title or license of an invention so that no other company can replicate or reproduce it.</span>
Answer: It is called prospecting and qualifying.
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