Adapting Corporate Strategies for Competitive Advantage


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What is a competitive advantage?

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1. Let's assume that you have a business selling oranges. Your main competitor has been in the same business for ten years and is very successful. For that reason, your competitor is seen as the standard when it comes to selling oranges. What is the term used to describe this?

2. Which of the following is a method that can be used to place emphasis on the features of a product?

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About This Quiz & Worksheet

Assess your knowledge of adapting corporate strategies with the worksheet and quiz. Topics on the quiz include naming some of these strategies and understanding competitive advantage.

Quiz & Worksheet Goals

Use the worksheet and quiz to:

  • Give the term used for describing a standard for a specific product in the marketplace
  • Recognize characteristics of product features
  • Name that which is a sign, symbol or representation of a company
  • Identify the term for raising a price above what competitors charge

Skills Practiced

Use the worksheet and quiz to practice the following study skills:

  • Interpreting information - verify that you can read information regarding characteristics of product features and interpret it correctly
  • Information recall - access the knowledge you've gained regarding signs and symbols that represent a company
  • Knowledge application - use your knowledge to answer questions about adapting corporate strategies

Additional Learning

Make use of the lesson called Adapting Corporate Strategies for Competitive Advantage to learn more. The lesson will guide you as you cover the following study objectives:

  • Explain how pricing works
  • Recognize the advantages of competitive advantage
  • Analyze product features