Question : The competitive position of a company can be improved by
Option 1: Increasing the selling price
Option 2: Reducing the margin of profit
Option 3: Ignoring competitors
Option 4: Understanding and fulfilling customer's needs
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Correct Answer: Understanding and fulfilling customer's needs
Solution : The correct answer is Understanding and fulfilling customer's needs
The ability to place a company ahead of its competitors is known as competitive positioning . The competitive position of the company can be ascertained by contrasting the prices of comparable goods and services with the value of the offerings made in the market.
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