ENTREPRENEURSHIP

Detailed explanation-1: -Importance of Indirect Competition Against a indirect competition company delivers message that their product or service is the best solution to their needs over other alternatives available. Indirect competitions are highly influencing businesses and to find out these competitors is not easy.

Detailed explanation-2: -Indirect competitors are companies that target the same customer demographics as another business. Both you and your indirect competitors address the same customer need but offer different products or services.

Detailed explanation-3: -External factors are elements from outside the company that affect business performance, such as competition, economic climate, political and legal environment, technological advances, or major global events.

Detailed explanation-4: -Definition: Indirect competition, also known as substitutes, is when two or more businesses offer different products or services and compete for the same market to satisfy the same customer need.