competitor

  

Definition

Any person or entity which is a rival against another. In business, a company in the same industry or a similar industry which offers a similar product or service. The presence of one or more competitors can reduce the prices of goods and services as the companies attempt to gain a larger market share. Competition also requires companies to become more efficient in order to reduce costs. Fast-food restaurants McDonald's and Burger King are competitors, as are Coca-Cola and Pepsi, and Wal-Mart and Target.

Use competitor in a sentence

  • Amy from Verizon was suffering a loss of commissions thanks to a competitor named Julia who just began working for AT&T and successfully taking away clients.

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  • They were our top competitor and they really knew how to push our buttons through ads and anything else they could use.

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  • The primary competitor in the market was spending heavily on marketing and advertising so we decided to match their investment.

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