1. Value for money products, buy one get one free (BOGOF)
2. Price undercutting, resulting in cheaper brand/own brand products
3. Product invention - generics in pharmaceutical drugs, which are cheaper than brand leaders within the industry thereby reducing costs to the NHS precscribers
4. With the innovation of the ￡ shop, market brand leaders have been forced to lower prices, and reduce profit margins, therefore the customer benefits from multi branded top goods being available under one roof.
1) Customers have alternative products to choose from, which may suit varying budgets and needs
2) Companies are forced to innovate and "outdo" their competitors, in terms of product innovation or pricing. This gives customers better and possibly cheaper products to choose from.
1. Competetive pricing
2. Product availability
lower prices, better customer service.
Many thanks for your help!
