a-1 international company adds several features to one of its products and reduces the product's price. what is most likely to be the company's objective?

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10-11-2022
Business

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a-1 international company adds several features to one of its products and reduces the product's price. what is most likely to be the company's objective?

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akankshasharma92 akankshasharma92 · Answer 1 · 2022-11-14T18:25:42+01:00

A-1 international company adds several features to one of its products and reduces the product's price. The objective of the company is to meet the competition.

Competition refers to a situation when someone is attempting to outperform another person in order to win something.

It is described as a two- or more-firm activity in economics when each firm tries to persuade consumers to buy its products over those of the other firm. For instance, through providing various products, better prices, or through other techniques.

In economics, competition exists when a market has enough buyers and sellers to keep prices at a low level. Consumers have many options due to the abundance of sellers, so businesses must compete to provide the greatest rates, value, and services. Otherwise, consumers will go to the competition.

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