Which statement regarding competitive advantages is true? If several competitors pursue similar differentiation tactics, they may all be perceived as equals in the mind of the consumer With an overall cost leadership strategy, firms need not be concerned with parity on differentiation In the long run, a business with one or more competitive advantages is probably destined to earn normal profits Attaining multiple types of competitive advantage is a recipe for failure

Question

Cierra Rogers

Business

15 December, 01:38

Which statement regarding competitive advantages is true? If several competitors pursue similar differentiation tactics, they may all be perceived as equals in the mind of the consumer With an overall cost leadership strategy, firms need not be concerned with parity on differentiation In the long run, a business with one or more competitive advantages is probably destined to earn normal profits Attaining multiple types of competitive advantage is a recipe for failure

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Answers (1)

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Elliott Bolton · Answer 1

If several competitors pursue similar differentiation tactics, they may all be perceived as equals in the mind of the consumer.

Explanation:

Competitive advantage refers to the situation where the market conditions are favorable, and accordingly, the sales, and the market is expected to grow for the company.

If most of the competitors in the market selling the same product follows different marketing tact which are similar somewhere, then the consumer thinks it s a simple market strategy to provide something different by each business, thus, it is common for each business to use different tactics.