how do nearby businesses with similar products usually compete?
A:offering deals and lower prices
B:changing to different product types
C:lowering the level of service to save costs
D:establishing a minimum price for everyone to use
1.A
2.A
3.C
4.B
5.A
Their was 4 questions for my test
༼ 👇 ◕‿◕ ༽👇
1. A
2. A
3. C
4. B
Anyone who had the 4 questions instead of 5 their are the answers Hal is still correct but I had 4 questions 😊!
Jeff is right 2018
Jeff is right 100%
Jeff is 100% right! Thank you Jeff!
When nearby businesses have similar products, they usually compete by trying to differentiate themselves and attract more customers. Here are some common strategies they use:
A: Offering deals and lower prices. Businesses often compete by offering discounts, promotions, or competitive pricing to attract price-sensitive customers.
B: Changing to different product types. Some businesses may choose to diversify their product offerings or focus on a niche market to stand out from their competitors.
C: Lowering the level of service to save costs. While this may not be a preferred strategy, some businesses may attempt to lower their service quality to offer lower prices. However, this approach can have negative consequences, such as losing loyal customers or damaging the brand's reputation.
D: Establishing a minimum price for everyone to use. This approach, known as price fixing, is illegal in many jurisdictions as it goes against fair competition laws and harms consumers' ability to choose the best products at the best prices. It is not a recommended or legal strategy.
To determine how nearby businesses with similar products usually compete, you would gather information by observing the behavior and strategies of these businesses. This can be done by conducting market research, reading industry reports, analyzing competitors' marketing tactics, and even talking to customers or employees of these businesses.