<span>These claims are part of the firm's strategy to achieve product </span>differentiation. When a company has developed product differentiation in the mind of a consumer, that means they stand on in their mind. The consumer can easily distinguish one company's product or service from that of a competitor. Being a "favorite" in the consumers mind keeps the consumer loyal to the brand.
In an Italian leather goods company, all the top management positions in international operations are held by Italian nationals The staffing policy followed by this company is push strategy.
Italian leather-based is called the very excellent withinside the leather-based industry. This is the end result of its lineage and steady first-rate. In the style industry, luxurious manufacturers like Gucci and Louis Vuitton best use Italian leather-based due to the fact it's far recognizable as a mark of first-rate Cheaper leather-based objects are crafted from vera pelle or vero cuoio, frequently inclusive of layers of low first-rate leather-based glued collectively and dyed to resemble extra prized.
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Answer: For a competitive market, <u><em>if a seller charges more than the going price, buyers will go elsewhere to make their purchases.</em></u>
Explanation:
A perfectly competitive market has the following characteristics:
(a). In this particular market there are many buyers and sellers.
(b). Also each company makes similar product. i.e. the products are identical in nature.
(c). In this market buyers and sellers will have access to perfect information about price. and product.
(d). In a competitive market there are no barriers to entry into or exit from the market.
Therefore , <u><em>if a seller charges more than the going price, buyers will go elsewhere to make their purchases.</em></u>
