Marketing Fundamentals. COMPETITION. What is Competition?. Two or more businesses trying to sell the same type of product or service to the same customer. Market Share. The percentage of the sales volume of a total market held by a specific company
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What is Competition?
Two or more businesses trying to sell the same type of product or service to the same customer
1. Developing a Unique Selling Proposition (USP)
2. Lowering Production Costs
3. Servicing a niche market
4. Creating Customer Loyalty
Tim Horton’sRoll Up The Rim to Win
26 Tim Horton’s
2 Second Cups
4. Benefits of Use
7. Design Features
~Complete the Competitive Advantage Worksheet~
In Groups of 3 or 4
When companies with products that are NOT similar are in competition for consumer’s income
e.g. What can you buy for $20.00?