One Advantage of Nonprice Competition Is That

question 51

Multiple Choice

One advantage of nonprice competition is that

• A) a firm can react quickly to competitive efforts.
• B) market share becomes less important.
• C) a firm can build customer loyalty.
• D) marketing efforts are completely eliminated.
• E) pricing is no longer a factor.

---

Definitions:

Single Payment

A one-time transaction to settle a liability or complete a purchase.

Interest Annually

Interest annually refers to interest that is calculated and added to the principal balance once per year.

Term Deposit

A bank deposit that has a fixed term and typically offers a higher interest rate than savings accounts.

Credit Union

A member-owned financial cooperative that provides traditional banking services.