Question

Apple has been known to sell its products at higher rates than competitors, such as Microsoft, as it has been successful at convincing consumers that Apple products are special and more luxurious in comparison. By accomplishing this, Apple has gained:

a. multipoint competition.
b. market power.
c. corporate-level core competencies.
d. brand awareness.

Answer 1

b. market power.

Step-by-step explanation:

A firm has market power when it is able to charge prices for its goods and services far above its marginal cost of production and higher than the average price charged in the market for similar goods and services.

Apple is able to charge higher price when compared with Microsoft.

Corporate level core competitencies is when a firm has unique abilities that gives it an edge over other competitors and enhances the long term success of the firm.

Multipoint competition is when a firm is competiting at the same time across many industries with the same competitors.

Brand awareness is how well a product is familiar to consumers .