A marketing strategy:Multiple choice question.is the same thing as competitive advantage.is a step-by-step blueprint for all functions of a firm, identifying specific actions to take.outlines what a firm plans to do to appeal to potential customers, building a sustainable competitive advantage.

Competitive advantage comes from marketing assets that exhibit the following characteristics: Group of answer choicesCreate value, are rare/unique, inimitable and non-substitutable. Different to competitors, are financially valuable, easy to replicateMore popular than competitors', are easy to communicate, valued by customers.Hard to replicate, take a long time to acquire, possessed by many companiesValued by employees, easy to utilise, easy to maintain

The biggest and most important differences among the competitive strategies of different companies boil down toMultiple Choicewhether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage linked to low cost or differentiation.how they go about building a brand name image that buyers trust and whether they are a risk-taker or risk-avoider.the kinds of actions companies take to improve their competitive assets and reduce their competitive liabilities.the relative emphasis they place on offensive versus defensive strategies.the different ways the companies try to cope with the five competitive forces.

A company that focuses on the competitive advantage applies which strategySelect one:a.Market Share Strategyb.Corporate Strategyc.Business Strategyd.Growth Strategy

The Competitive Advantage Theory argues that businesses should focus on creating a sustainable competitive advantage through unique product offerings, cost leadership, or other means. true false

Identify an advantage of having strategic plans made by a firm at all levels.Multiple choice question.It helps set a firm's culture which in turn helps decide the type of employees to hire.It helps decide the structure that a firm should adopt to be successful.It helps decide the infrastructure required to run the operations of a firm.It takes into account the business environment, economic conditions, market opportunities, and competitor actions.