What is "non-price competition"?

What is "non-price competition"?

William A. Cohen (Author & Founder, Institute of Leader Arts) gives expert video advice on: How do I determine what to price my product or service?; What is a "price margin"? and more...

One basic way is price, in other words you are going to beat them on price; you are going to offer the same thing but you are going to do it cheaper. There are some dangers in this that we've talked about because of image, but it's doable though. However, if you are going to do non-price competition, what else do we offer? You can't just say "Well we give better service,"; what does that mean, what exactly does that mean? You can specify that as one thing; for example, when everyone else develops your photographs in one hour we do it in two minutes. Ok, that's something right; that gives an advantage. You can say that you are willing to pay for something like that; you know it's deserving and so you are willing to pay the price. So, that's now called non-price competition. Non-price competition can be something like that, or can be something else. Maybe your widget (people like to talk about widgets) is indestructible (which just means anything of course) and theirs is not. So, "My widget lasts hundred years; your children's children's children will inherit this widget, and it will still work!" That's worth something maybe; that's non-price competition.