Which of the following occurs between similar products and is based on buyers' perceptions of the benefits of products offered by particular companies?
A) international competition
B) substitute competition
C) brand competition
D) arbitrage

Question

Quizplus · Accepted Answer

Brand competition occurs between similar products and is based on buyers' perceptions of the benefits of products offered by particular companies. This competition is based on the brand value and reputation, and companies use various marketing strategies to establish their products as superior to others in the market. International competition refers to competition between companies from different countries, substitute competition occurs when there are similar products that can be used as alternatives to each other, and arbitrage refers to the practice of exploiting price differences in different markets to make a profit.

Which of the Following Occurs Between Similar Products and Is