Competition
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Competition PowerPoint PPT Presentation


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Competition. Competition – the rivalry between two or more firms in an industry / market (attempting to attract customers to their product). Competitiveness – the characteristics of a business which allow it to effectively compete / attract customers from its rivals.

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Competition

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Competition

Competition

Competition – the rivalry between two or more firms in an industry / market (attempting to attract customers to their product).

Competitiveness – the characteristics of a business which allow it to effectively compete / attract customers from its rivals.


Market structure level of competition

Market Structure (Level of Competition)


Market structure level of competition1

Market Structure (Level of Competition)

  • Competitive

  • Oligopoly

  • Monopoly

    (see p.255-256)


Market structure the marketing mix

Market Structure & the Marketing Mix

The level of competition in the market is a major influence upon the firms marketing decisions and will have an influence on each element of the marketing mix.

(See p.256-257)


Improving competitiveness

Improving Competitiveness

  • An individual business might not be able to influence the level of competition in the market, but they can attempt to improve their own competitiveness against their rivals.

  • This can be done by using both:

  • Marketing methods

  • Non Marketing methods

  • (see p.258-259 + extra notes + extension reading)


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