noun[mass noun] Economics
A form of competition in which two or more producers use such factors as packaging, delivery, or customer service rather than price to increase demand for their products.
- This is particularly important in industries where firms do not compete primarily in terms of price, but instead engage in non-price competition, such a product quality competition.
- In response to such non-price competition, many states passed Certificate of Need laws in the 1970s.
- And advertising can also be a useful tool if you are engaged in non-price competition, for example where a small dominant group of sellers wants to artificially keep prices high by giving an impression of fierce competition.
For editors and proofreaders
Line breaks: non-price com|pe¦ti¦tion
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.