McDonald's and its major competitors compete based:
A)only on the price.
B)only on the basis of product characteristics.
C)on both the price and product characteristics.
D)none of the above because the fast-food industry is perfectly competitive.

Question

Quizplus · Accepted Answer

McDonald's and its major competitors, such as Burger King and Wendy's, compete based on both the price and product characteristics. These fast-food chains offer similar products, but they differentiate themselves through various promotions, pricing strategies, and menu items. For example, McDonald's offers its famous Big Mac and Happy Meal, while Burger King offers its Whopper and a variety of chicken sandwiches. Additionally, these fast-food chains compete on price by offering various value meals and discounts to attract customers. Therefore, option C is the best choice.

McDonald's and Its Major Competitors Compete Based