Marketing - What is a Sustainable Competitive Advantage

The video discusses how marketers can choose options to grow their business by focusing on sustainable competitive advantages. It emphasizes the importance of creating advantages that are hard to copy, such as through specialized knowledge and strong branding. The video highlights the challenges of maintaining these advantages in a fast-paced, internet-driven world and concludes with the need for long-term strategies to ensure business success.

What is a key characteristic of a sustainable competitive advantage?

• It is difficult for competitors to copy.

• It is easy to replicate.

• It is based on low pricing.

• It relies on temporary market trends.

How can specialized knowledge contribute to a competitive advantage?

• By providing insights that competitors do not have.

• By reducing production costs significantly.

• By increasing the speed of product delivery.

• By expanding the product line rapidly.

Why is branding considered a sustainable competitive advantage?

• It reduces advertising costs.

• It makes imitation less appealing to consumers.

• It creates a perception of quality.

• It allows for higher pricing.

What is the role of brand recognition in maintaining a competitive edge?

• It ensures lower production costs.

• It guarantees faster market entry.

• It attracts more investors.

• It discourages consumers from choosing imitations.

Which of the following is NOT a method to achieve a sustainable competitive advantage mentioned in the video?

• Specialized knowledge

• Unique product features

• Branding

• Temporary market trends