(please respond with 120 words or more) 1. Compare and contrast the characteristics of price and...

(please respond with 120 words or more)

1. Compare and contrast the characteristics of price and non-price competition.

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Expert Solution

If we distinguish between price and non price competition we must say that price competition will imply that a firm works according to giver demand curve and does price manipulations to attain desired level of revenue . In case of non price competition the firm will try to change the location and shape of the demand curve .

Secondly , non price competition is a kind of market strategy . One firm uses design , presentation as tools to distinguish its products from another firm . Quality service , customer services , advertisements are other strategies . Any strategy comes under this regime other than price . On the other hand in case of price competition a firm will try to make its product unique from competing firms on the basis of low price .

Non price competition involves higher expenditures than price competition . Additional expenditures on promotion , advertisement , coupons , customer service executive recruitment etc . But in spite of these extra costs firms prefer non price competition because it is usually more profitable than lowering the price to grab market share . Also price wars can be avoided .

Rahul Sunny answered 1 year ago

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