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. ┬аWhy Other Options Are Incorrect тАв A: Not necessarily lowest price. тАв C: Removing products. тАв D: Promotional tactic. тАв E: Exit strategy. ┬аBanking Example: Instant personal loans through mobile app.

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