GENERAL KNOWLEDGE

Detailed explanation-1: -The most common form of non-price competition is advertising. Here, companies compete to raise the market share by showing their commodities or products on different platforms rather than reducing the product price.

Detailed explanation-2: -Advertising. This is likely the biggest type of non-price competition since many firms will spend thousands or millions of dollars to advertise their product and/or company as a way to increase the number of people who purchase their products. High quality products.

Detailed explanation-3: -Non-price competition involves advertising and marketing strategies to increase consumer demand and develop brand loyalty.

Detailed explanation-4: -Two major forms of non-price competition are product differentiation and promotion: Product Differentiation: Product differentiation is a prime strategy that enables a business to distinguish its goods from its competitors and capture a larger market share.

Detailed explanation-5: -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.