Competitive Advantage

Competitive Advantage

By: Mrs. Cousins

Multiple Choice

A competitive advantage is the leverage a business have over its competitors.

• True

• False

Multiple Choice

A business can create a competitive advantage by

• Decreasing the price

• Only selling the product online

• Improve the quality of the product or service

• Targeting the same market as its competitor

Multiple Choice

A Business can create a competitive advantage by:

• Differentiating the product or service

• Offering a high cost product

• Decreasing productivity

• All of the above

Multiple Choice

Which of the following is NOT an effect of comparative advantage on international trade?

• Nations produce goods and services they can sell for a profit.

• It influences the development of a variety of industries.

• It makes efficient use of human resources.

• Nations monitor the percentage of their urban population.

Multiple Choice

A focus on developing only certain skills or producing only certain goods/services

• Imports

• Specialization

• Exports

• Globalization

Multiple Choice

Which of the following is NOT a business strategy?

• Developing new product or services

• Entering new markets

• Increasing customer loyalty

• Decreasing sales

Multiple Choice

The types of competitive advantage includes ALL the following EXCEPT......

• cost differentiation

• cost leadership

• product differentiation

• distribution differentiation

Multiple Choice

When a company develops unique differences in its products or services with the intent to influence demand it is called ________________ ___________

• service upgrading

• product enhancement

• service alternatives

• product differentiation

Multiple Choice

Which of the following resources is a source of competitive advantage?

• physical resources

• human resources

• organizational resources

• all of the above

Multiple Choice

In logistics, a competitive advantage can be created by

• offering more products

• competing with similar products

• providing superior value to customers

• undertaking an analysis of competitors' weaknesses