Question

Gareth is the owner of a popular car wash facility. He has a small cafe set up beside the facility where customers can have a quick snack while waiting for their vehicles. Also, he ensures that each and every customer gets the best service in town. Customers do not mind paying extra because of these reasons. In fact, Gareth noticed that in the last 6 months, he has received several new customers who were previously engaged with his competitors. In the context of the components of resource-based analysis, Gareth's product or service is _____.

Answer 1

Valuable

Step-by-step explanation:

Resource based analysis is a method that managers used to determine resources that are vital to achievement of a competitive edge in a given business environment.

The resources that efficiently brings in new customers and retains old one is considered to be valuable.

In the given scenario Gareth's service is valuable because he ensures that each and every customer gets the best service in town, and he noticed that in the last 6 months, he has received several new customers who were previously engaged with his competitors