Nonprice competition involves factors beyond pricing. A USP highlights a product's unique advantage. Marketers can gather competitor information through various channels.
Nonprice competition refers to competition between companies based on factors other than price, such as product quality, customer service, branding, or unique features.
A Unique Selling Proposition (USP) is a distinctive advantage that sets a company's product or service apart from the competition, highlighting what makes it unique.
Marketers can find information about competitors when conducting a competitive analysis by examining competitors' websites, analyzing their advertising campaigns, and monitoring their social media presence.
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