Define the term ‘non-price competition’ - Leaving Cert Economics - Question 4 - 2010
Question 4
Define the term ‘non-price competition’. State two examples.
Definition:
Example 1:
Example 2:
Worked Solution & Example Answer:Define the term ‘non-price competition’ - Leaving Cert Economics - Question 4 - 2010
Step 1
Definition:
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Answer
Non-price competition refers to the rivalry between firms where each company seeks to increase its sales or market share through methods that do not involve changing prices. This can include various strategies that focus on enhancing the product or service, creating brand loyalty, and differentiating offerings from competitors.
Step 2
Example 1:
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Answer
Branding: Establishing distinct brand names for products helps consumers recognize and differentiate between options available in the market.
Step 3
Example 2:
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Answer
Packaging: Utilizing unique and distinctive packaging allows a product to stand out and be easily identified, which can influence consumer choice.
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