When firms compete by offering unique product features rather than competing on price, <u>non-price competition</u> occurs; it is when businesses employ tactics to boost sales and market shares without lowering prices.
What is non-price competition?
In non-price competition, a company "seeks to distinguish its product or service from competing items on the basis of features like design and workmanship," according to a marketing strategy. Because it exists between two or more producers who sell goods and services at the same prices but seek to expand their respective market shares by non-price factors like marketing strategies and higher quality, it frequently happens in imperfectly competitive markets.
Types of Non-Price Competition:
Marketing involves a range of approaches (based round the 4Ps), including product differentiation, advertising, promotion and distribution
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Answer:
The Return on total assets is 7.3%. The right answer is c
Explanation:
In order to calculate the the return on total assets we would have to calculate the following formula:
Return on total assets = Earnings before interest and taxes / Average total assets
Earnings before interest and taxes=Net income + Interest expense
Net income=$21,643
Interest expense=$4,450
Average total assets
=$359,218
Return on total assets= ($21,643 + $4,450) / $359,218
Return on total assets=0.0726=7.3%
The Return on total assets is 7.3%
Answer:
contribution margin ratio
Explanation:
contribution margin ratio = price - variable cost
Answer:
$52,000
Explanation:
The computation of the cost of inventory is shown below:
= Cost of merchandise + freight charges + insurance during transit + import duties - discount
= $50,000 + $1,500 + $500 + $1,000 - $1,000
= $52,000
The discount is computed below:
= Cost of merchandise × given percentage
= $50,000 × 2%
= $1,000
The advertising and the sales commission should not be considered. Hence, ignored it
