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

Sustainable Competitive Advantage

A sustainable competitive advantage is gained when a companyMultiple Choicehas sufficient resources to expedite its strategy.has durable competitive assets that are central to its strategy and superior to those of rival firms.realizes its inherent weaknesses are transformable to advantages.can stand out relative to rivals because of resource utilization.has resources in well-populated geographical locations.

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

How could a business gain a competitive advantage?

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.