GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Non-price competition is a strategy that implies attracting customers and increasing sales by providing superior product quality, a unique selling proposition, a great location, and excellent service rather than lower prices. It helps brands stand out and win new consumers.
Detailed explanation-2: -Instead of engaging in price wars with their competitors, companies that rely on non-price competition use promotional expenditures such as marketing campaigns, brand management costs, advertising, sales staff, sales promotions, free gifts, and free delivery services.
Detailed explanation-3: -Non-price competition involves advertising and marketing strategies to increase consumer demand and develop brand loyalty.
Detailed explanation-4: -Non-price competition is the use of ads, giveaways, or promotions to win customers.