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competitor


Definition
A business that provides similar products or services. The presence of competitors in an industry drives down the price of goods and services because consumers have more alternatives from which to choose if the price of a particular good or service is too high.

Related Terms

monopoly -  More

perfect competition -  More

oligopoly -

Related Terms on BusinessDictionary

flanking
success to the successful
five forces
Bertrand competition
horizontal integration
Cournot competition
cutthroat competition
price fixing
level playing field
differentiation
fair competition
price war
macro environment
distribution network
monopolistic competition
majority fallacy
non-price competition
strategic management
dominant firm
skimming price
marginal pricing
status quo strategy
sustainable competitive advantage
mark down
duopoly
strategic behavior
competitive analysis
effective competition
competitive benchmarking
market information system
exclusive agency agreement
competitive intelligence
external dependence
undercut
competitive parity method
external structure
competitive price
market opportunity
fighting brand
vertical price restraint
adaptability
market penetration pricing
virtual enterprise
concerted refusal to deal
administered price
customer-centric
contingency analysis
market skimming pricing
industry analysis
cooptition
bid rigging
horizontal price restraint
bottleneck principle
product extension merger
image attributes
microenvironment
industry attractiveness
customer value added (CVA)
business scenario
multi-brand strategy
infomediary
customer value added ratio
buying distribution
normal profit
information broker
customs duty
captive market
patent pending
interlocking directorate
decision theory
commercial protection
preemptive pricing
key ratios
differential advantage
competitive structure
pricing strategy
shakeout
driving forces
market leader
market position
corporate strategy
market niche
competitive advantage
brand
diversification
prospective
strength
market condition
merger

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