Chapter11: Monopolistic Competition, Oligopoly, And Game Theory
Section: Chapter Questions
Problem 2WNG
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Competitive Advantages and Competitor Analysis
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Step 1
Competitive Advantage:
It refers to the factors that make it easy for the companies to produce services or goods at a cheaper cost as co pared to its rivals. Due to presence of such factors the company can earn more profits and high sales margin than its rivals in market. The three basic competitive advantage are: cost differentiation, product differentiation and niche strategies. Example, rivals restricted from use of natural resources which is accessed by a specific company.
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