competition
Definition
Open market rivalry in which every seller tries to get what other sellers are seeking at the same time-sales, profit, and market share—by offering the best practicable combination of price, quality, and service. Where the market information flows freely, competition plays a regulatory function in balancing demand and supply.
competition is in the Advertising, Marketing, & Sales, Economics, Politics, & Society and Entrepreneurship, Management, & Leadership subjects.
competition appears in the definitions of the following terms:
indirect competition,
intertype competition,
price,
shakeout,
adjustment assistance,
fair competition,
tactical pricing,
business risk,
intratype competition,
bid
and
competition appears in the other terms:
Cournot competition,
competition-based pricing,
generic competition,
interchannel competition,
monopolistic competition,
time-based competition,
oligopolistic competition,
full and open competition,
Bertrand competition,
perfect competition
and
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