KEYWORDS

• Horizontal Integration: when two or more businesses merge at the same stage in the production process.
• Vertical Integration: when two businesses merge from different stages of the production process
• Conglomerate Integration: merging of multiple businesses that are all at different stages of the production process
• Unique selling point(USP): a feature that makes a product/service appear different from its rival.
• Objective: a businesses objective are those goals/targets required to fulfil their mission
• Competive advantage: firms that positively distinguish themselves from the competition are said to have the edge over their rivals
• Differentiation: ways in which a company gains competitive advantage such as strong produft branding, price, marketing and customer service.