What term describes firms that market products with similar features and benefits to the same customers at similar prices?

The term that accurately describes firms that market products with similar features and benefits to the same customers at comparable prices is "brand competitors." Brand competitors are businesses that offer products that fulfill the same customer needs and are positioned closely within the same market segment. They compete not just on the basis of price but also on the brand identity and perception that customers have towards these products.

For example, if two companies sell similar types of running shoes aimed at the same demographic, they would be considered brand competitors. This competition can drive innovation, marketing strategies, and consumer engagement as each brand seeks to differentiate itself in terms of quality, features, and overall customer experience.

In contrast, product competitors refer to those that offer different products that serve the same purpose, thus, they might not share identical features or benefits. Generic competitors involve products without branding that meet basic needs, while total budget competitors focus on how all options fall within a consumer's overall budget, competing for the same financial resources rather than similar products or features.