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.
competitor is in the Advertising, Marketing, & Sales and Decision Making, Problem Solving, & Strategy subjects.
competitor appears in the definitions of the following terms:
differentiation,
customer value added ratio,
prospective,
dominant firm,
competitive analysis,
market penetration pricing,
bottleneck principle,
contingency analysis,
skimming price,
effective competition
and
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