USA HISTORY

Detailed explanation-1: -In simple words: Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.

Detailed explanation-2: -Definition: Direct competition is when two or more businesses offer the same product or service and compete for the same market. There are many common examples of this.

Detailed explanation-3: -What is business competition? Business competition is the contest between organizations that provide similar products or services or that target the same audience of consumers. Businesses compete to convert and retain customers, increase revenue and gain more market share.

Detailed explanation-4: -What is Competitive Rivalry? Competitive rivalry is a measure of the extent of competition among existing firms. Intense rivalry can limit profits and lead to competitive moves, including price cutting, increased advertising expenditures, or spending on service/product improvements and innovation.

Detailed explanation-5: -BRAND COMPETITION: A company sees its competitors as other companies that offer similar products and services to the same customers at similar prices.