How To Find A Competetive Advantage Flashcards
1
Q
First mover advantage
A
A firm’s ability to be better off than its competitors as a result of being first to market in a new product category
2
Q
Lower cost advantage
A
When a company can produce a product or provide a service at a lower cost that it’s competitors
3
Q
Proprietary technology
A
Is any combination of processes, tools, or systems, of interrelated connections that are the property of a business or individual.
4
Q
Be unique
A
Be the only one of its kind; unlike anything else
5
Q
The first to take in a new
A
Direction
6
Q
Same product, lower
A
Price
7
Q
Different product,
A
Different attributes
8
Q
Hold your positions through defensive
A
Strategies
9
Q
Pull resources through
A
Strategic Alliances
