Final answer:
The characteristic that separates one company from another in product, price, promotion, and/or distribution, is referred to as differential advantage.
Step-by-step explanation:
The characteristic that separates one company from another in product, price, promotion, and/or distribution, is referred to as differential advantage. This means that a company has something unique or distinctive that sets it apart from its competitors in terms of its products, pricing strategies, marketing promotions, and distribution channels.
For example, if a company offers a product with improved features or provides better customer service than its competitors, it creates a differential advantage. Likewise, if a company introduces a new pricing strategy or uses innovative promotional techniques, it can differentiate itself from others in the market.