What is Competition? Two Meanings!

Competitive Environment
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Competitive Environment > Best Practices

Marten van der Zee, Analyst, Netherlands
Everyone knows what competition is approximately. But actually the concept of competition can have TWO meanings: A. The Extent of Rivalry (Competitive Struggle) in a market: how strong is the battle in a market for the favor of the customers? In other words, how intense is the competition? A typical approach for this is B. All individual competitors together: the collective name for all the competitors of a company. Because of these two different meanings, a competition analysis normally consists of 2 components: 1. An analysis of the intensity of the competitive rivalry in a market, and 2. An analysis of the behavior of the individual competitors. This is known as competitor analysis. (...) Read more? Sign up for free

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