${?}_{{?}_{{?}_{?}}{?}_{{?}_{?}}is\text{t}\text{h}\text{e}\text{e}\text{f}\text{f}\text{e}\text{c}\text{t}of\text{a}\text{c}\text{o}\text{m}\text{p}\text{a}\text{n}\text{y}\text{'}\text{s}\text{a}\text{b}\text{i}\text{l}\text{i}\text{t}\text{y}to\text{c}\text{r}\text{e}\text{a}\text{t}\text{e}\text{v}\text{a}\text{l}\text{u}\text{e}\text{f}\text{o}\text{r}\text{i}\text{t}\text{s}\text{c}\text{u}\text{s}\text{t}\text{o}\text{m}\text{e}\text{r}\text{s}\text{t}\text{h}\text{a}\text{t}\text{e}\text{x}\text{c}\text{e}\text{e}\text{d}\text{s}\text{t}\text{h}\text{e}costof\text{p}\text{r}\text{o}\text{d}\text{u}\text{c}\text{i}\text{n}\text{g}\text{t}\text{h}\text{e}\text{p}\text{r}\text{o}\text{d}\text{u}\text{c}\text{t}\text{s}or\text{s}\text{e}\text{r}\text{v}\text{i}\text{c}\text{e}\text{.}}$

${?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{i}s$ the effect $of$ a company's ability $to$ create value for its customers that exceeds the cost $of$ producing the products $or$ service.

external environment

barriers $to$ entry

competitive advantage

strategy

strategic group