Question

If firms in the travel industry compete through nonprice competition, these statements are all true except which one?

Answer 1

The  statements about nonprice competition  that is false is a) Companies that use nonprice competition do not need to keep track of their competitor's prices.

What is nonprice competition?

It should be noted that the is not complete, this is just a related question, Non-price competition can be regarded as a marketing strategy whereby  firm tries to distinguish the  product or service of their company  from competing products .

In this case, in Non-price competition,  company must be able to distinguish its brand through some unique feature in order to successfully engage in nonprice competition.

Learn more about nonprice competition on:

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CHECK THE COMPLETE QUESTION;

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.