NON-PRICE COMPETITION
\nˈɒnpɹˈa͡ɪs kˌɒmpətˈɪʃən], \nˈɒnpɹˈaɪs kˌɒmpətˈɪʃən], \n_ˈɒ_n_p_ɹ_ˈaɪ_s k_ˌɒ_m_p_ə_t_ˈɪ_ʃ_ə_n]\
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A market situation which exists due to the fear of a price war. As such, competitors do not reduce prices. They however, focus on building a distinctive image for their brand through extensive promotions. This type of competition diverges from the dynamics of a free market system.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.