Non-price competition includes customer acquisition methods other than price. A great example is the high quality of the product, excellent location of stores, high availability of products, after-sales service, or attractive purchase conditions. Check how to stand out from competing brands!
Where can we meet non-price competition?
The aforementioned phenomenon usually occurs within an oligopoly in which the market is dominated by a few companies. While brands may compete on price, often non-price competition becomes a key factor. The prices of products / services remain at a similar level, which is why companies are looking for other ways to reach customers. In this case, brands compete with cheaper deliveries, faster order fulfillment, sale campaigns, discounts or free gifts.
Competition outside the price may also emerge in the monopoly market. Rather than engaging in price wars, brands focus on differentiating their offerings. Additionally, they try to improve their image in the eyes of the audience.
Non-price competition: examples
Are you wondering how to gain an advantage over the competition? First of all, adapt to the customer's needs. Also, make sure that your website, social media profiles and advertisements attract attention with an attractive design. In addition, try to increase the availability of products and services, thanks to which you will become credible in the eyes of customers. It also plays an important role competition monitoringbecause it allows you to understand what the advantage of your biggest rivals is.
A great example would be a loyalty card. Companies offer attractive discounts, in-kind or cash rewards to customers who collect points. Non-price competition also involves promoting the unique feature of the offer and terms of sale in marketing channels, including newsletter, social media posts and commercial advertising.
Are you active in a competitive market?
We will suggest how to stand out from the crowd!
Competition outside the price is a key element of your marketing strategy. In many cases, it is not enough to offer a low price to attract customers. To emphasize the unique features of the product, decide on website positioning, inbound marketing or a PR campaign.