A competitive advantage
1.A competitive advantage means that a company has something unique or superior to that of the competition. Name an international company that uses product quality as its competitive advantage. Then briefly describe what you think would happen if the company lowered the quality of that product.
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2.At times, a company can sell a product without having to adapt it, such as water. However, many products need to be adapted. Provide an example of a product that must be adapted to be sold in a nation other than the one where it is currently sold. Then briefly explain how the product would need to be adapted to sell in another nation.
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3.Consumer behavior is an important concept in marketing. Briefly explain how the attitudes, beliefs, and values of consumers affect the products and services that they purchase. Provide a specific example to help explain your answer.
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4.Setting up a business always involves risk. Briefly explain why a company would set up a business in a least developed country where consumers have a low income. Provide a specific example to help explain your answer.
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5.Exchange rates can be a challenge when selling to people outside of one’s own country. Briefly explain why that statement is true. Then provide an example of what you would do as an entrepreneur to help overcome that particular challenge.
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