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40. Modern methods of competition
There are three forms of competition:
1) subject;
2) functional;
3) personal.
Competition methods:
1) based on the criterion of improving the quality of goods (non-price);
2) on the basis of the criterion of improving the quality of service of the goods;
3) on the basis of price reduction (price);
4) on the basis of lower operating costs for the consumer
5) on the basis of improving the quality of management;
6) based on the use of all competitive advantages of the object and subject (integral).
Price competition - lowering the price increases sales, leads to the expansion of the market.
Direct price competition - firms widely announce reductions in prices for goods produced on the market.
Hidden price competition - firms introduce a new product with improved consumer properties, and raise the price disproportionately little.
Non-price competition. Highlights higher reliability than rivals, lower "cost of consumption", more modern design, etc. Strongest weapon
Under the conditions of pre-monopoly capitalism, the main means of conducting competition was price competition (bringing down prices by offering a price lower than that of a competitor). Under the dominance of monopolies, open price competition between concerns is a rare phenomenon.
Possessing enormous economic and financial power, the monopolies cannot oust each other without devastating consequences for themselves. Therefore, they prefer to respond to short-term fluctuations in demand not by changing prices, but by maneuvering the utilization of production capacities. Prices remain relatively stable even during crises and rise during economic upswings.
This does not mean the abolition of price competition in general. Most often, it is hidden, so-called price discounts are used. In the consumer goods market, price competition is used in the form of seasonal discount sales.
Increasing the quality of the product, providing guarantees and services to customers, widespread advertising, etc. are becoming more important in monopolistic competition. This is objectively related to the scientific and technical process, in which the requirements for quality, reliability and novelty of products for consumers are very significant.
Various innovations become the strongest weapon of competition. Modern corporations have become centers of applied R&D, with research laboratories and a large scientific staff controlling major patents. The pace of the scientific and technical process within the concerns has become a decisive condition for their competitiveness.
Author: Ilyina V.N.
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