Non-price competition
What Non-price competition means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Non-price competition
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Reference: Pearson Edexcel
Strategies firms use to attract and retain customers without changing the price of their products, through branding, advertising, customer service, loyalty schemes and product innovation.
Gaining market share through methods such as advertising, branding and loyalty schemes without triggering destructive price wars.
Focusing on factors such as product quality, customer service and design rather than changing the selling price.
Marketing strategies designed to shift the demand curve to the right and make it more price inelastic.
Topics that use Non-price competition
- Oligopoly (Pearson Edexcel A-Level)
- Responding to global demand (Pearson Edexcel A-Level)
- Spectrum of competition (Pearson Edexcel A-Level)
- Types of non-price competition (Pearson Edexcel A-Level)
Related terms
- Product differentiation
- Barriers to entry
- Branding
- Competition regulation
- Concentration ratio
- Distribution methods
- Economies of scale
- Ethnocentric approach
Using Non-price competition in the exam
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