Asap Company XYZ is considering offering a new service in the field of telecommunication, in your opinion which source of competitive advantage they should adopt? And why?. Also which pricing strategy to apply and Why?
Asap Company XYZ is considering offering a new service in the field of telecommunication, in your opinion which source of competitive advantage they should adopt? And why?. Also which pricing strategy to apply and Why?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Asap
Company XYZ is considering offering a new service in the field of telecommunication, in your opinion which source of competitive advantage they should adopt? And why?. Also which pricing strategy to apply and Why?
Expert Solution
Step 1
The competitive advantage is defined as the favorable position of the business from where they derive higher profits. It helps the business to over perform in the market compared to its rivals. The company may gain advantage in its production cost, differentiation, technology, and innovated products. Thus, the modern era businesses are agressively involving into research and development practices to gain fight competition with getting first mover advantage in the market.
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