How can a consumer benefit in a competitive marketplace?

Answer 1

your a consumer and circuit city has a laptop for 200 dollars and best buy has it for 210. you say look bestbuy circuit city has it for 200. they give it to you for 200 plus 10 percent off. Where if it was no competition market all prices are set and basically no sale on items.

Answer 2

A consumer always benefits in a competitive market place. Competing companies continually look for new ways to gain customers, lowering prices, introducing special offers, increasing service quality and anything else they can think of to steel customers from their competitions.

Answer 3

Consumer can compare among a good variety of brands to choose the best quality item at the lowest price.In absence of a competitive market the vendors get a monopolistic position and the poor customer has to surender to their terms and get cheated.

Answer 4

By choosing the best place to shop!!

People often believe a choice means cheaper and/or lower quality, but a competitive marketplace is not like that.

It means you can maybe buy what you want, where you want, at a price you want, and still have a chance to spoil yourself.

If you want ;-)

Answer 5

Simple; more competition means an increase in quality because firms will try to boost sales by adding in features that those of other firms lack which would attract customers.

Firms could also try to boost sales by lowering prices. Always good for us consumers. ^_^

Answer 6

consumer should give proper time to see plus and minus of parallel competitive companies

Answer 7

Please look into the strategy of WAL-MART and Starbucks.

Answer 8

better price....better product...yumyum....