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      Question

      If a bank offers instant digital approval for small

      personal loans, it is strengthening which competitive advantage?
      A Price leadership Correct Answer Incorrect Answer
      B Speed of service Correct Answer Incorrect Answer
      C Product elimination Correct Answer Incorrect Answer
      D Mass promotion Correct Answer Incorrect Answer
      E Market withdrawal Correct Answer Incorrect Answer

      Solution

      Fast approval enhances responsiveness and service efficiency, which is a major differentiator in banking.  Why Other Options Are Incorrect • A: Not necessarily lowest price. • C: Removing products. • D: Promotional tactic. • E: Exit strategy.  Banking Example: Instant personal loans through mobile app.

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