nonprice competition
definition: having the ability to compete in the market other than lowering price
- With monopolistic competitive firms not having to compete on price alone, this opens up the ability to compete

There are four characteristics of nonprice competition:
1) physical characteristics
2) location
3) service level
4) advertising, image, or status
connected key terms:monopoly | monopolistic competition


everyday examples
▪ mcdonalds and burger king on opposite sides of the street
▪ starbucks inside target, coffee bean outside

navigation
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