MANAGEMENT

Detailed explanation-1: -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.

Detailed explanation-2: -“Collaborative competition” is a combination of concepts familiar from capitalist economies. In capitalism, competition is constantly called for not just in the economy but also as a means for more innovation, efficiency and accountability in other spheres.

Detailed explanation-3: -Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.

Detailed explanation-4: -There are three main types of sustainable competitive advantage: differentiation, cost leadership, and focus advantage.