. Compare and contrast the different advantages and disadvantages of competition.
What will be an ideal response?
Answer:
The five sources of competitive advantage include: innovation, quality, service, speed, and cost competitiveness.
Innovation is the introduction of new goods and services. A firm must adapt to changes in consumer demand and to
new competitors. Quality is the excellence of one's product or service. Quality can be measured in terms of product
performance, customer service, reliability (avoidance of failure or breakdowns), conformance to standards,
durability, and aesthetics. In a competitive context, service means giving customers what they want or need, when
and where they want it. So, service is focused on continually meeting the changing needs of customers to establish
mutually beneficial long-term relationships.
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Avril Lavigne has been picked as a spokesperson for T-Mobile wireless phone service. She was chosen because of her appeal to members of T-Mobile's target market. In terms of service promotion strategy, she will be considered what type of information source?
a. impersonal b. cue control c. personal d. remote
Which of the following statements is/are true according to Parker's article, The Emotional Connection of Distinguishing Differences and Conflict?
a. People's differences present opportunities for organizations to be more creative. b. Differences always lead to negative conflicts no matter how hard we try to avoid them. c. Emotional intelligence is needed to make conflicts have positive outcomes. d. a & c