How do nearby businesses with similar products usually compete?

(1 point)
Responses

offering deals and low prices

offering deals and low prices

changing to different product types

changing to different product types

lowering the level of service to save costs

lowering the level of service to save costs

establishing a minimum price for everyone to use

establishing a minimum price for everyone to use

1 answer

Nearby businesses with similar products usually compete by offering deals and low prices. This strategy is common as it attracts price-sensitive customers and can help businesses increase their sales volume in a competitive market.