Answer:
The correct answer is gain a competitive advantage over their competitors.
Explanation:
A company has a competitive advantage when it has a unique and sustainable advantage over its competitors, and this advantage allows it to obtain better results and, therefore, to have a superior competitive position in the market.
There are many sources to generate this type of advantages, such as the location of our company, quality, innovations in the products we manufacture, the service we offer or lower production costs among others.
There are many features on which to build competitive advantages, but all of them can be classified into two main groups:
- Leadership in costs: The objective is to follow a strategy that allows you to reduce costs without reducing the quality of the product offered. In this case, the company achieves lower production costs than its competitors, in order to offer the lowest market price. There are always and there will be customers, whose main purchase decision variable is the most economical price, ignoring other attributes such as quality or service.
- Differentiation: Having features that competing products do not have allows you to raise the sale price, obviously as long as they are appreciated and valued by customers. It's no use adding unique features to our products, if there are no customers willing to pay for them.
