Question

A firm is said to gain a competitive advantage when it can a. perform at the same level as that of its competitors. b. provide products similar to its competitors, but at lower prices. c. exceed its own previous performances. d. minimize the difference between value creation and cost.

Answer 1

Firms often have advantage over others. A firm is said to gain a competitive advantage when it can provide products similar to its competitors, but at lower prices.

What is Competitive advantage?

• This is simply known as the factors that helps a company to create more quality goods or services or more cheaply than its rivals company.

These factors helps the productive entity to get more sales or superior margins compared to its market rivals and it can only be achieved if when it can create or produce products similar to its competitors, but at cheaper prices.

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