5 Sources of Competitive Advantage
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Questions and Answers

What is one way to gain an advantage over competitors?

  • Emphasizing brand identity and atmosphere (correct)
  • Ignoring consumer preferences
  • Lowering product prices
  • Offering the same products as competitors

    • What can set a product apart from its competitors?

  • Unique product attributes (correct)
  • Lack of innovation
  • Ignoring consumer feedback
  • Price similarity with competitors

    • Which company is mentioned as an example of differentiating its products using brand identity, atmosphere, and sourcing?

  • Whole Foods Market (correct)
  • Wegman’s
  • Stop & Shop
  • Trader Joe’s

    • What can make consumers want to purchase a product instead of competitors’?

    <p>Innovative product attributes</p> Signup and view all the answers

    What force drives humans to evolve and outpace their competitors?

    <p>Competition</p> Signup and view all the answers

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