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WorksheetsESB Lesson 7 Vocabulary - Competitive Advantage
Total questions: 20
Worksheet time: 15mins
Match the definition to the vocabulary word:
The ability and willingness to change actions and plans
to overcome present and future challenges.
Flexibility and Adaptability
Differentiate
Competitor
Competitive Matrix
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A business that is trying to do better than others in the same or similar market.
Direct Competitor
Differentiator
Competitor
Indirect Competitor
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Something that puts your business ahead of the competition.
Differentiator
Competitive Advantage
Industry
Strong Direct Competition
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A business that sells similar products or services.
Competitor
Indirect Competitor
Strong Direct Competitor
Direct Competitor
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Grid used to compare characteristics of your business with those of your direct competitors.
Differentiator
Competitive Matrix
SWOT Analysis
Global Economy
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What you charge customers for your product or service
SWOT Analysis
Price
Global Economy
Quality of Service
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A business evaluation method that focuses on four categories: Strengths, Weaknesses, Opportunities, and Threats
SWOT Analysis
Location
Global Economy
Competitor
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The economy of the world, or the economy we share across borders.
Industry
Price
Global Economy
Competitor
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A short statement that summarizes the benefits a company gives to its customer segments.
SWOT Analysis
Delivery Method
Unique Factors
Unique Value Proposition
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Measurement of the overall performance of a product or service, in terms of your customer’s experience.
Price
Global Economy
Quality of Service
Reputation
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Something that makes your company stand out
Unique Value Proposition
Unique Factors
Reputation
Location
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A business that sells similar products or services, but has a different focus
Strong Direct Competition
Indirect Competitor
Weak Direct Competition
Direct Competitor
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A business that sells similar products or services and has the same focus
Strong Direct Competition
Indirect Competitor
Weak Direct Competition
Direct Competitor
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A business that sells a different product or service, but still fills the same customer need or want.
Competitor
Indirect Competitor
Strong Direct Competitor
Direct Competitor
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Unique characteristic that distinguishes your business from other businesses
Differentiator
Unique Factor
Unique Value Proposition
Reputation
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The production of goods or services within an economy; can include anything from farming to furniture making to healthcare services
Global Economy
Differentiator
Industry
Competitor
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Where your business is or where you sell your products or services and whether it gives your business an advantage.
Quality of Service
Price
Delivery Method
Location
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The assistance and advice provided by a company to those people who buy or use its products or services
Customer Service
Delivery Method
Reputation
Unique Factor
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Positive or negative public opinion of a company, how it operates, products, and services.
Reputation
Location
Unique Factor
Quality of Service
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A standardized procedure for transferring a product or service to the customer. This should be more convenient, efficient, and/or reliable to be considered an advantage.
Price
Unique Factor
Deliver Method
Customer Service
