Firms use nonprice competition to increase product demand and make its products more unique to consumers.

Name: Firms use nonprice competition to increase product demand and make its products more unique to consumers.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Nonprice competition involves strategies other than price changes, such as improving product quality, offering additional services, or enhancing its image, to make a product more attractive and unique to consumers, thereby increasing demand.

Firms Use Nonprice Competition to Increase Product Demand and Make