When products cannot be easily differentiated,the entrepreneur is forced to charge a lower price than the competition.

Name: When products cannot be easily differentiated,the entrepreneur is forced to charge a lower price than the competition.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In markets where products cannot be easily differentiated, entrepreneurs might focus on other competitive strategies such as innovation, quality, customer service, or branding to add value and justify higher prices, rather than just competing on price.

When Products Cannot Be Easily Differentiated,the Entrepreneur Is Forced to Charge