MANAGEMENT

Detailed explanation-1: -One advantage of competitive advertising is to demonstrate superiority. Competitive advertising is a good way to point out features and benefits of a product or service to show the customer that they are superior to the competition.

Detailed explanation-2: -One method to gain an advantage in a business competition is through strategic use of advertising. Good marketing and advertising makes people aware of what products or services a business has to offer. It is used to bring in potential customers. Special advertising strategies can be used to gain the upper hand.

Detailed explanation-3: -Some businesses might believe that by limiting competition among themselves, they will earn higher short-term profits. Of course, this drives up prices and may result in lower quality products, hurting consumers. However, in the longer term, it will likely be disastrous to the businesses as well.

Detailed explanation-4: -Advertising is a technique used by firms in monopolistic competition to create product differentiation. The goal of product differentiation and advertising in monopolistic competition is to make sure the the market is under control, and as a result, charge a higher price.