UNIT-1
COMPETITION BUSINESS
ENVIRONMENT
Competition in the business environment
refers to the rivalry between companies
striving to achieve their goals, such as higher
sales, greater market share, and improved
profitability. Understanding competition is
crucial for businesses to strategize effectively
and maintain a competitive edge. Here's an
, overview of key concepts related to
competition in the business environment:
Types of Competition
Direct Competition: Companies
offering similar products or services
to the same customer base. For
example, Coca-Cola and Pepsi.
Indirect Competition: Businesses
that offer different products or
services that satisfy the same
customer need. For example,
McDonald's (fast food) and local
restaurants.
COMPETITION BUSINESS
ENVIRONMENT
Competition in the business environment
refers to the rivalry between companies
striving to achieve their goals, such as higher
sales, greater market share, and improved
profitability. Understanding competition is
crucial for businesses to strategize effectively
and maintain a competitive edge. Here's an
, overview of key concepts related to
competition in the business environment:
Types of Competition
Direct Competition: Companies
offering similar products or services
to the same customer base. For
example, Coca-Cola and Pepsi.
Indirect Competition: Businesses
that offer different products or
services that satisfy the same
customer need. For example,
McDonald's (fast food) and local
restaurants.
