Question

Define competitors, competitive rivalry, competitive behavior, and competitive dynamics. And give examples of each

Answer 1

competitors: Institutions working in the same target market and offering similar products are called competitors to each other . Ex- Pepsi and Coca cola

Competitive rivalry : Competitive rivalry is a set of competitive actions and response that occur among close competitors as they maneuver for a better market share and position. Ex. among all commercial banks

Competitive behavior :Competitive behavior is the set of actions as well as responses by the company takes to create strategy of attack or defend on competitorsto get competitive advantages and improve market position.

EX- launch of new prodcut with very similar to offered by others , giving discount on products

Competitive dynamics: All set of competitive behavior and action to succed in market is termed Competitive dynamics.