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Question
Non-price competition is ______.
Options
Reducing prices
Competition based on prices
Spending money on advertisement, packaging, branding
Sale of unused stock
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Solution
Non-price competition is spending money on advertisement, packaging, branding.
Explanation:
Non-price competition is when businesses compete by investing in tools other than pricing. Firms in this form of rivalry typically spend money on advertising, packaging and branding to attract new customers.
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