competition

Competitor – By Jay Sunder Pandey

Get The Fact

Objective

• To understand about competition & how to avoid this.

What is competition ?

Definition

• In market economy, competition is a process

whereby firms fight against each other for

securing consumers for their products

• "the effort of two or more parties acting independently to secure the business of a third party by offering the most favourable terms.“

Who are our competitors ?

• Why should anybody buy our product?

• What is our area of excellence

• Why from us?

• Ex Mobile

Forms of Market Competition

Models of

Competition

Number of

buyers

Number of

sellers

Nature of

products

Barriers to

entry and

exit

Perfect

competitionVery large Very large

Identical

productsNone

Monopoly Very large OneSingle

productVery large

Monopolistic

competitionVery large Large

Minimum

differencesNone

Oligopoly Very large Very fewLarge

differencesLarge

Analyze our self over our competitor

• Are we number one ?

• How we can improve our ranking?

• Are price higher or lower?

• ?

• ?

How to avoid competitions?Our products

• Better quality/longer-lasting

• Easier to use

• Safer to use

• More efficient

• More compact

• Waterproof

• More retro

• Rarer

• More modern

• Design that is more

• More beautiful/quirky/etc packaging

• More daring

• Approved by a respected organisation

• Fresher/tastier/healthier/more organic

Our service• Better customer service

• More favourable opening hours

• Faster delivery

• Offer online ordering where competitors don't

• Your website is more efficient/reliable/quicker/simpler

• Offer freebies that competitors don't

• The gender or age of employees

• Employees' expertise or demeanour

• Employees wear uniform

Our business

• No frills deals

• Wider range of products

• Better payment options

• Better located

• More pleasant premises

• Having an outdoors

• Being charitable

Summery

• What is competition?

• How we can analyze?

• How we can avoid?

Thank You !

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