Business GCSE
Impact of competition on pricing and profitability
What Impact of competition on pricing and profitability means in Business GCSE, as defined for AQA.
Definition of Impact of competition on pricing and profitability
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Reference: AQA
Rivals offering similar products lead customers to compare on price, quality and service, so a business may lower prices, which can reduce profit margins.
Topics that use Impact of competition on pricing and profitability
- Competitive environment (AQA GCSE)
Related terms
- Business response
- Competition
- Competitive pressure
- Entrepreneurial motives and rewards
- Market
- Price and non-price competition
- Reward
- Risk
Using Impact of competition on pricing and profitability in the exam
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