Definition of Non-price competition:
Market situation in which competitors would not lower prices for fear of a price war. Instead they focus on extensive promotions to highlight the distinctive benefits or features of their products. Non price competition is an anomaly in a free market systems based on price-quantity relationship.
How to use Non-price competition in a sentence?
- You need to follow a non-price competition strategy so that you are not getting into bidding wars with your opponents.
- The non-price competition was an unspoken agreement that no one would benefit in the market of sellers for lowering prices.
- You should try to never be in a non-price competition and base your prices on what you think they should be, not on your competitors.
Meaning of Non-price competition & Non-price competition Definition