Question one: strategies companies use to compete
Companies use different strategies to compete in the market. Typically companies employ the concept of pricing to position them favourably in the market against their rivals. Pricing involves the use of price discrimination, discounts and lowered price models. Price constitutes one fundamental factor that determines consumer decision making. Consumers would prefer low prices to high prices and would consequently go for lowly priced commodities for satisfaction of their wants and needs. Companies also employ marketing techniques to compete in the market. In marketing, companies offer special rates for commodities give after sale servicing and provide additional material for consumers ...