Question: Michael Porter argues that ait is important that the gap between value and the cost of production be smaller than that of competitors. . those

Michael Porter argues that ait is important that the gap between value and the cost of production be smaller than that of competitors. . those firms that create superior value will achieve superior profitability . it is necessary for a firm to have the lowest cost structure or create the most valuable product. d. standardization of product is a basic strategy for attaining a competitive advantage in an industry.

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