Answered

Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

Section 3.2 Review: Check Your Understanding Questions

Answer each of the following questions with a thoughtful, 2-3 complete sentence response, citing textual support where possible.

1. What is nonprice competition?
2. What is a unique selling proposition (USP)?
3. List ways marketers can find information about competitors when conducting a competitive analysis.
4. Identify three common ways businesses position their products in the marketplace.
5. State the market share formula.

Sagot :

GinnyAnswer

Final answer:

Nonprice competition involves factors beyond pricing. A USP highlights a product's unique advantage. Marketers can gather competitor information through various channels.


Explanation:

Nonprice competition refers to competition between companies based on factors other than price, such as product quality, customer service, branding, or unique features.

A Unique Selling Proposition (USP) is a distinctive advantage that sets a company's product or service apart from the competition, highlighting what makes it unique.

Marketers can find information about competitors when conducting a competitive analysis by examining competitors' websites, analyzing their advertising campaigns, and monitoring their social media presence.


Learn more about Competition here:

https://brainly.com/question/40808616


Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.