Question

The companies LaceThings Inc. and BellePrints Corp. sell the same product. They constantly try to outdo each other in terms of resources, price, and customer satisfaction. The companies try to outperform each other in order to gain customer loyalty and generate more sales. This scenario is an example of ________.

Answer 1

Answer:Competitive Rivalry.

Explanation:Competitive Rivalry, is a competition that occurs between firms, this competition lead to one firm standing as a stumbling block of the other firm and preventing it from making profit because it becomes too fierce as each one tries to catch up and attract more customers by extreme price cutting , spending more money on advertisement and innovation or product improvement.