Because _____ is not an ideal situation for many businesses, most of them try to get around price competition by focusing on differentiating their products and offering more value to customers than their competitors.%0D%0A%0D%0A(1 point)%0D%0AResponses%0D%0A%0D%0Aquality control%0D%0A%0D%0Aquality control%0D%0A%0D%0Abrand equity%0D%0A%0D%0Abrand equity%0D%0A%0D%0Aprice reduction%0D%0A%0D%0Aprice reduction%0D%0A%0D%0Alife-cycling
Because price competition is not an ideal situation for many businesses, most of them try to get around it by focusing on differentiating their products and offering more value to customers than their competitors. One way they achieve this is through quality control, ensuring that their products meet high standards and deliver consistent performance. Another strategy is to build brand equity, cultivating a strong brand image and reputation that distinguishes them from competitors. Additionally, businesses may invest in research and development to introduce innovative features or enhance the life-cycling of their products, providing customers with improved functionality and durability. Ultimately, by emphasizing these aspects, businesses aim to attract and retain customers based on attributes other than just price.
