Which of the following statements about nonprice competition is false?
A) Companies that use nonprice competition do not need to keep track of their competitor's prices.
B) A company must be able to distinguish its brand through some unique feature in order to successfully engage in nonprice competition.
C) A firm using nonprice competition can build loyalty to both its company and its products.
D) When using nonprice competition, a company should promote the distinguishing characteristics of its brand.
E) Buyers must view the distinguishing characteristics of a product offered through nonprice competition as being important.

Question

Quizplus · Accepted Answer

Companies that use nonprice competition still need to keep track of their competitor's prices, as pricing can still affect the perceived value of their product in comparison to competitors.

Which of the Following Statements About Nonprice Competition Is False