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1 year ago

Any action, other than lowering its price, that a firm undertakes to increase the demand for its output is called?

1 answer:

5 0

Any action that a firm takes to increase the demand for its product or output other than lowering its prices is called non-price competition.

A firm usually makes a non-price competition strategy that distinguishes its output from its competing output on the basis of attributes like workmanship and design etc.

The non-price competition strategy involves advertising, product differentiation, promotion, and supply distribution. This non-price competition strategy allows a firm to distinguish its product and increase its demand against its competing product without lowering the price.

Despite the benefits of a non-price competition strategy, it requires a lot of research to make distinguish the product from its competing product. Usually, buyers are not aware of the quality of the product and they don’t know which firms provide greater quality products. It requires a lot of advertising and promotion etc.

You can learn more about non-price competition at

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Which of the following is NOT considered a trend in marketing?

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Answer:

Explanation:

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3 years ago

Classify each of the following in terms of their effect on interest rates (increase or decrease): I. Covenants on borrowing beco

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Answer: I decreases; II decreases; III decreases

Explanation:

Debt Covenants becoming more restrictive means that less people want to borrow money. This shifts the demand curve to the left and this Decreases interest rates.

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3 years ago

A company had the following partial list of account balances at year-end: Sales Returns and Allowances $ 1,000 Accounts Receivab

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Answer:

$91,900

Explanation:

The computation of net sales revenue is shown below:-

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2 years ago

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E. The quantity of beef supplied decreases and the supply of beef is unchanged.

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