Question 17

Multiple choice

17 Marketing Strategy statements Are the following statements acceptable according to best practice as part of the marketing strategy when crafting a marketing plan for a company importing CBD supplements and selling them in the lcelandic market (ignoring lack of sources)? Competitive advantage can be dened as having a strong desire to create a favorable position for your company to beat the competition. ONo O Yes The best way to build a competitive advantage in this market is to build a distinctive and strong brand, thereby differentiating the company from its competitors and building strong customer loyalty. ONE: 0 Yes Examples of sustainable sources of competitive advantage are good service, trust, quality and speed of service. 0 Yes ONo As the company is pursuing a niche strategy it will be positioned as a premium product and will provide a high margin for the company. ONE: 0 Yes \f