BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A global market about religious products and services
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A national market (or geographic area) where the firm profit all its revenues
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A managers’ prayer to earn as much as possible
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A national market (or geographic area) where the firm profit largely because of its strong market positions
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Detailed explanation-1: -A profit sanctuary refers to a country market (or geographic region) where a company: Derives substantial profits because of its strong or protected market position.
Detailed explanation-2: -The idea here is that if a firm is to maintain sustainable competitive advantage, it must control a set of exploitable resources that have four critical characteristics. These resources must be (1) valuable, (2) rare, (3) imperfectly imitable (tough to imitate), and (4) nonsubstitutable.
Detailed explanation-3: -These factors allow the productive entity to generate more sales or superior margins compared to its market rivals. Competitive advantages are attributed to a variety of factors including cost structure, branding, the quality of product offerings, the distribution network, intellectual property, and customer service.