Question

With its well-known status as a luxury brand, Louis Vuitton is using nonprice competition which is best described as when _______. a.a seller emphasizes price as an issue and matches or beats competitors' prices b.a seller decides not to focus on price and instead emphasizes distinctive product features, service, product quality, promotion, packaging, or other factors to distinguish its product from competing brands c.the costs of producing a product equal the revenue made from selling the product d.two or more companies engaging in intense price competition, often in an effort to boost market share e.buyers focus on purchasing products that signify prominence and status

Answer 1

Answer: b. a seller decides not to focus on price and instead emphasizes distinctive product features, service, product quality, promotion, packaging, or other factors to distinguish its product from competing brands

Explanation: Nonprice competition is a form of competition wherein sellers use other factors other than price to increase demand for their products and services. When Louis Vuitton decides not to focus on price and instead emphasizes distinctive product features, service, product quality, promotion, packaging, or other factors to distinguish its product from competing brands, it is engaging in nonprice competition.